What is Directors and Officers Insurance?
Organizations ask their leaders to take on significant responsibilities, and with those responsibilities comes a certain level of risk that leaders assume. Directors and officers insurance policies help protect leaders of organizations in Vermont from some of the risks that they’re exposed to.
Directors and officers insurance is a type of professional liability insurance that’s uniquely designed for people who have leadership roles. As is true with other liability insurances, directors and officers typically helps with legal costs and settlements related to covered claims.
Who in Vermont Should Carry D&O Insurance?
Most people who assume leadership roles within for-profit or nonprofit organizations in Vermont ought to consider protecting themselves with D&O insurance. This includes executive team members, board members, chairpersons and others.
Anyone who’s unsure whether they’d benefit from the protections afforded by D&O policies can ask an insurance agent who specializes in this form of protection. A specialized agent will be familiar with the protections that D&O policies offer and be able to determine whether they’re appropriate in a given situation.