D&O insurance (directors and officers insurance), also known as executive risk insurance, is designed to protect corporate executives, directors, and officers from personal financial losses arising from claims of wrongful acts in the performance of their duties. Safeguarding the personal assets and reputations of executives and directors is essential, and a RIG risk advisor can help you navigate the complexities of executive risk management with confidence.
D&O insurance can provide coverage for legal defense costs, settlements, and judgments resulting from lawsuits alleging wrongful acts such as negligence, errors, omissions, or breaches of fiduciary duty committed by corporate executives and directors.
Additional executive risk coverage solutions designed to protect your executive leadership that fall under D&O insurance include:
Employment practices liability insurance (EPLI) protects executives and directors from claims of discrimination, harassment, wrongful termination, and other employment-related issues.
Fiduciary liability insurance provides coverage for claims alleging breaches of fiduciary duty in the management of employee benefit plans, such as pension plans and retirement funds.
E&O insurance (errors and omissions), also known as professional indemnity insurance, provides coverage for claims alleging professional negligence or errors in the performance of professional services.
Corporate governance insurance covers a wide range of governance-related risks, including compliance failures, regulatory investigations, and shareholder lawsuits.
Entity coverage insurance provides coverage for the corporate entity itself in the event that indemnification is unavailable or insufficient to cover losses resulting from claims against executives and directors.
Side A coverage, also known as non-indemnifiable insurance, provides coverage directly to executives and directors for losses not covered by indemnification or entity coverage.
Cyber liability insurance for executives is another important component of D&O insurance, providing coverage for losses resulting from cyberattacks, data breaches, and other cyber-related risks. In today’s digital age, cyber threats are a constant concern for executives and directors, and cyber liability insurance can help mitigate the financial impact of cyber incidents and protect personal assets.
Your organization and executive team face unique risks and challenges, and you need a tailored D&O insurance program that meets your specific needs. The RIG advisory team of executive risk specialists will provide you with personalized service and guidance throughout the insurance process, from policy selection and underwriting to claims management and risk mitigation.
Contact RIG to talk with a risk advisor today. Your RIG advisor will help assess your unique needs for D&O insurance and develop a personalized risk management plan and insurance solution tailored to protecting your executives, directors, and organization from the financial and reputational risks associated with executive leadership, giving you the freedom to prosper.
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