Directors & Officers Insurance is a great policy to carry if you own a business. Often referred to as D&O Insurance, this coverage protects the personal assets of corporate directors and officers as well as their spouses in the event they are sued personally by an employee, vendor, competitor, customer or other party.
There are a wide variety of instances in which D&O insurance can protect you. Some of those include:
- Breach of fiduciary duty that results in a financial loss or bankruptcy
- Misrepresentation of company assets
- Conflict of interests
- Stealing intellectual property
- Poaching competitors customers
- Negligence in duties
Why You Should Have D&O Insurance
D&O Insurance will protect you and your company by covering legal fees, settlements and other costs associated with the risk. Note that illegal acts or illegal activities are generally excluded from D&O coverage.
Is D&O Insurance Expensive?
The cost of D&O Insurance varies depending on several factors including, the type of business you run, your revenue, the amount of coverage you need and what coverage you opt-in for. The best way to find out what your premium will be is to ask a licensed agent in our office to provide you with some quotes from several of the top insurance companies in Minnesota.
Get Your D&O Quote Today
Our licensed staff is ready to help you get multiple quotes for your Directors & Officers Insurance. Because we’re an independent insurance agent we can shop from multiple insurance companies to help you find the right coverage at the right price.