Directors and officers insurance is coverage that protects you from personal losses that may occur if you’re sued by an outside party while holding the position of a director or an officer.
In addition to personal losses, this kind of policy can also help to cover legal fees that are associated with the suit - preventing you from paying out-of-pocket.
Although you may never think you could end up in this situation, it’s always better to take the precautions necessary to help you financially save yourself in the long run.
On this page, we’ll talk about what directors and officers insurance covers and how a Colorado insurance agency like Rick Baker Insurance can help you find the right policy for your business. If you’d like to speak with an agency right away, call us at 303-444-3334!
Not only does director and officer liability insurance cover those that hold each respective position, but it can also help protect the organization that they belong to if they are sued. Policies typically cover both for-profit and nonprofit organizations.
With a director and officer insurance policy, you can ensure that your business has coverage against both civil and criminal actions taken against you or your organization.
However, it’s important to keep in mind that most directors and officers insurance policies exclude offenses like fraud or other criminal offenses.
If you’re not sure that your business needs directors and officers insurance coverage, you can start by calling Rick Baker Insurance at 303-444-3334 to learn more.
It’s important to keep in mind that depending on your organization and the nature of your business, you could benefit from different kinds of coverage.
The knowledgeable insurance agents at Rick Baker Insurance can help you determine what kind of policy you need and which would be best suited for your unique business.
If you’re ready to get started, give us a call at 303-444-3334 for more information!