small-business-healthcare

Directors & Officers Liability Insurance/EPLI

Are you a senior executive in an organization or do you sit on a board? If so, then this insurance pertains to you!

Did you know that as a senior executive or a board member, you can be held personally liable for the actions of the organization? Directors and Officers Insurance provide protection for defense costs, settlements and judgments proceeding a lawsuit or wrongful act allegation made against previous, current & future D&O’s. Defense costs only can fast run into the hundred thousands.

Directors & Officers Insurance (D&O)/EPLI claims can relate to:

  • Failure to provide services (D&O)
  • Improper management of Assets (D&O)
  • Employment related issues including discrimination, harassment and wrongful termination (EPLI)
  • Misstatements, breaches of duty that arise from business decisions

D&O Insurance compensates directors & officers for legal claims made against them.

Why choose McLean Insurance for your Directors & Officers Insurance (D&O)/EPLI Needs?

  • Personalized Service – You will be treated as family and not a number. Plus, we are local, active in the community and have a good understanding of insurance needs in the local area
  • Trusted Advice – Licensed insurance agents with over 50 years of combined experience in insurance work closely with you to determine needs; discuss the right type of coverage for you and help ensure that you won’t end up being under or over insured.
  • Independent Focus – We work with over 50 top insurers and can help you select the best pricing, coverage, and underwriting for your needs.
  • Thorough approach – We fact-find thoroughly at the beginning of the process in order to ensure that our initial recommendations are realistic and attainable

Already have Directors & Officers Liability coverage but wondering if you have enough coverage or could be saving more money? Call us at 703-790-5770 to discuss your specific situation with a McLean Insurance expert.

Not sure if Directors & Officers Liability Insurance (D&O)/EPLI is needed for your business?

Refer to the famous Smith v. Van Gorkom lawsuit. The case debated whether ‘The Business Judgment Rule” by the Board to approve a merger was an informed decision”. Ultimately the Court found the Directors to be grossly negligent and they had to pay $23.5 million in damages. This case prompted many board members in a variety of organization to ensure Director and Officers Insurance was provided if serving on a board.

Directors and Officers serving for an organization share certain responsibilities that could raise personal liability claims against them. Individuals may be hesitant to serve as a director or officer of an organization that doesn’t maintain D&O Insurance because it raises the risk of them personally having to pay for damages.

McLean Insurance puts considerable thought into each Directors & Officers Liability Insurance (D&O)/EPLI policy they create for an organization.

Contact one of our experts at 703.790.7550 or fill out the form on the right to get started.