You insure your business so that you and your employees can be protected. You don’t want to get an insurance that you don’t need. You may be wondering if you need directors liability insurance. In order to know the answer to that question you have to first understand what it is, how it protects you and how you can get it.
What is Directors and Officers Liability Insurance?
Directors and officers liability is payable to the directors and officers of a company or to the organization itself. It can be used to give reimbursement or advancement of legal costs.
How Does Directors and Officers Liability Protect?
Directors liability insurance protects you and your officers from legal claims and litigations. If you, your business or a person in a position of authority is sued due to something related to the business, this insurance can cover the cost of legal defense. This can save you and your employees a lot of money and hardship.
How Can You Get It?
You can get this type of insurance by talking to an insurance agent. They can go over exactly how this type of policy works and how much it would cost. An insurance agent can also make sure that your business is completely covered. If you don’t know if you need directors liability insurance, talk to an insurance agent today.