If you serve on a board of directors or are an officer of a company, chances are your decisions regarding management of the business are under significant scrutiny by employees, customers, stakeholders and other interested third parties. To protect yourself from legal liability regarding your duties as a board member, you may consider purchasing a directors and officers liability insurance policy which, in effect, acts as a management errors and omissions policy.
Your actions on the job as a director, officer or other top-tier manager of a corporation or nonprofit organization can lead to a legal situation whether or not you knowingly or intentionally committed any wrongdoing. Without insurance, you may be financially responsible for the costs of a lawsuit claiming you mismanaged the company and led to financial or operational loss or harm to others.
A director or officer position holds heavy responsibility and risk. A D & O liability policy can protect your personal finances from the impact of a lawsuit that may hold you accountable for lost profits or operations. Get your customized quote from Edge Insurance now.
Penalties for non-compliance may vary by state, but can be severe. To get a quote and purchase a worker’s compensation policy, contact Edge Insurance today.