Massachusetts Directors and Offficers Liability Insurance
Part of being a business owner, officer or executive is accepting the potential risks for lawsuits resulting from harm caused by your decisions. It is for this reason that more than 95% of Fortune 500 companies maintain Director and Officers Liability Insurance. In Massachusetts, Directors and Officers Insurance not only provides coverage for the company, but also its directors, managers and officers. It also covers employees for suits alleging that their decision-making caused financial harm.
Common directors and officers suits are typically due to problems with financial reporting, bankruptcy, dishonesty or fraud. We’re not suggesting you are involved in, or planning to be involved in, any of those activities. But the cost of doing business includes the cost of protecting yourself from these types of lawsuits.
We can help you obtain the right Massachusetts Directors And Officers Liability Insurance to protect your company and its directors against claims from stockholders, employees and clients. You already know a director can be held personally responsible for acts of the company. The strength and integrity of an entire company can be brought down by the actions of a single employee. Unfortunately, it happens all the time. Wouldn’t you rather be protected from the actions of people and things you can’t control instead of putting your assets at stake?
Did you know that employment practices suits constitute the single largest area of claim activity under Directors and Officers Insurance Policies? More than half of all policies related to Directors and Officers Insurance are employment practices related.
This type of insurance is often discussed but rarely understood. Even attorneys with experience in the field have problems comprehending what kind of coverage the insured managers have. You’ve likely seen headlines on top of news stories about “mega claims” in the billions along with less informed articles discussing the principles of this kind of insurance cover.
Don’t take chances when it comes to your livelihood and the security of your business. Talk to us. We can help.