Tri-State Insurance Agency Covers Your Directors and Officers

Executive liability is a threat for corporations, large and small. In addition to potentially huge litigation damages, expenses and distractions, fear of exposures can inhibit decision-making and result in the loss of significant business opportunities. At Tri-State Insurance Agency, we understand the importance of protecting your company’s leadership and assets from expensive legal claims.

Directors and officers liability (D&O) insurance is designed to step in to protect the assets of individuals and companies when liability claims surface. Policies are available for private and public companies as well as non-profits and associations. They typically cover legal fees, financial settlements, and damage awards. Some policies will also cover some civil penalties and expenses related to regulatory or legal investigations.

Inside the D&O policy.

There are several kinds of directors and officers liability policies. Some protect individual directors’ and officers’ personal assets through a policy called Side A coverage. You can also guard the company with Side B coverage, which reimburses the company for costs it incurs indemnifying directors and officers in a covered claim. Side C coverage steps in to help the company when it is listed as a defendant in a D&O liability claim.

In addition to the clear risk-reduction benefits, proactive management of D&O exposures can also improve a company’s ability to recruit talented management, enhance the quality of corporate decision-making, and contain the cost of D&O liability insurance premiums. At Tri-State, we’ll review your company’s management structure, bylaws and risks then offer some recommendations to you on appropriate coverage based on those factors and your budget. Our risk management services include claim prevention strategies as well as an overall evaluation of your portfolio to discover gaps in coverage, especially in the employment practices liability area, which is usually excluded from D&O liability insurance.

Protect your company’s leadership with Tri-State.

Tri-State Insurance Agency provides a comprehensive business insurance portfolio for companies throughout Pennsylvania, northern New Jersey and New York. Give our professionals a call toll-free at 888.990.0526, email us or fill out and send the form on this page for a free consultation and quote.