Management Liability | Director & Officers Liability

Directors’ and officers’ liability insurance (D&O) is a type of insurance that provides financial protection to the directors and officers of a company if they are sued for alleged wrongful acts in the course of their duties. This type of insurance is often referred to as "management liability insurance."

D&O insurance is not typically included in a business owner's policy (BOP) and would need to be purchased as a standalone policy

D&O insurance covers the directors and officers of a company, as well as the company itself. It is designed to protect against lawsuits alleging that the directors and officers of the company have breached their duties to the company or its shareholders or have acted negligently or fraudulently in the course of their duties.

D&O insurance is important for businesses of all sizes, as it can protect against the financial consequences of lawsuits and other legal actions taken against the company or its directors and officers.

Customize Your Coverage

Management Liability Insurance may also include several other insurance solutions depending on your policy and can be customized to suit your needs with the following:

• Employment practices liability: This coverage protects against lawsuits alleging discrimination, harassment, or other employment-related wrongful acts.
• Fiduciary liability: This coverage protects against lawsuits alleging that directors and officers have breached their fiduciary duties to the company or its shareholders.
• Crime coverage: This coverage protects against losses resulting from criminal acts committed by directors and officers, such as fraud or embezzlement.
• Cyber liability: This coverage protects against losses resulting from cyber attacks or data breaches.

Here are some examples of common D&O claims:

• A shareholder of a company sues the company's CEO for allegedly making decisions that were not in the best interests of the company, resulting in financial losses for the shareholder.
• A company is sued by a former employee for alleged discrimination or harassment, and the employee names the company's directors and officers as defendants in the lawsuit.
• A company is sued for alleged securities fraud, and the directors and officers of the company are named as defendants in the lawsuit.
• A company is sued for alleged breach of contract, and the directors and officers of the company are named as defendants in the lawsuit.
• A company is sued for alleged environmental violations, and the directors and officers of the company are named as defendants in the lawsuit.

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We understand small business because we are one. Concklin Insurance Agency was started by Craig Concklin and his father, Tom Concklin in 1981.  We continue to be a family owned, small business to this day.

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