Insurance coverage
D&O insurance for the people making the decisions
Leading a business or serving on a board comes with decisions other people may challenge. Directors and officers insurance addresses certain claims involving those management decisions, with coverage that depends on the organization and the policy.
Who the policy protects
The organization and its leaders have different needs
A privately held company, a nonprofit and a condo association do not have identical exposures. Their ownership, governing documents and responsibilities differ, and a D&O review should begin with those differences. It should also establish who is insured and how the organization’s protection works alongside protection for individual leaders.
BIG can help you review the policy you have and the available alternatives. For an association, that review belongs alongside the master property and liability policies, so the board can see how the pieces fit together.
Comparing coverage
Look beyond a single limit on the proposal
D&O policies address covered allegations of wrongful acts in leadership roles. Defense costs, exclusions and the way coverage applies to the organization can differ between policies. Claims involving bodily injury or property damage generally belong in a different coverage discussion.
Ask what happens when both an individual director and the organization are named in a claim. Also review the treatment of prior matters and how defense expenses affect the limit. Employment practices coverage should be identified separately, even when it is offered as part of a broader management liability package.
Starting the conversation
Give us the context behind the board or business
Send your current coverage, a description of the organization and any insurance requirements you need to meet. Ownership changes, new investors, a change in board responsibilities or a significant dispute are details to raise early in the review.
We will use that information to help compare suitable options and explain the differences that matter to your organization. For an upcoming renewal, include the renewal date so we can plan the review around it.
Related coverage and industries
Explore your options
Master policy and association insurance reviews for boards and property managers.
General LiabilityCoverage for claims involving injuries to others, property damage and related liability.
Cyber InsuranceReview cyber insurance for incident response, business disruption and claims involving customer information.
Coverage references
General information. Coverage depends on the policy, exclusions and underwriting.