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D&O Liability Insurance

Good leadership is essential for success in business as well as for nonprofits, and social welfare organizations. In order to attract these outstanding leaders, these organizations must offer their directors and officers financial protection from their leadership decisions.

Without the protection of directors and officers liability insurance coverage, the personal property and funds of directors and officers within your organizations are at risk. Not just from damages that may be awarded against them for decisions they made in service to your organization, but for the legal costs of defending themselves against these claims. Even false claims can present crippling financial hardships to defend against.

Otterstedt Insurance Agency understands the need to protect the people who make your business great. We can help you protect the financial interests of your directors and officers just as they protect the financial interests of your organization today and in the future.

Why Do You Need D&O Liability Coverage?

Directors and officers liability insurance protects the people who face the greatest risks on behalf of your organization. It’s not just the risks of lawsuits from outside the organization, but from within as well. Employees and stockholders are as likely to name directors and officers in legal actions as clients are.

Employment practices lawsuits account for a large percentage of lawsuits that ultimately make their way up to the directors and officers within the organization. This means that if your business has employees, you need to protect your directors and officers with this critical type of insurance coverage.

Common claims that are made against directors and officers include:

  • Conflicts of interest
  • Acting outside the scope of authority
  • Mismanagement of company assets, operations, or resources
  • Breach of fiduciary responsibilities
  • Discrimination
  • Wrongful termination
  • Invasion of privacy
  • Emotional distress
  • Unfair competition
  • Defamation
  • Libel
  • Trademark violations
  • Misuse of funds

Not only can these cases drag on for years in court, but they can cost a considerable amount of money, time, effort, and energy to defend against.

That doesn’t even take into account potential settlements or judgments that may be awarded. Without D&O liability coverage, your directors and officers could face losing their homes, their children’s college funds, and even their retirement savings.

If you hope to attract top talent to your organization for director and officer roles then this type of insurance protection is a must. Most won’t even consider working for an organization that doesn’t offer this essential protection to their officers and directors. Keep that in mind as you seek to bring the best and brightest into the fold of your business organization.

Why Choose Otterstedt Insurance Agency to Protect Your Directors and Officers?

Otterstedt has served the insurance needs of business organizations, like yours, throughout the state of New Jersey since 1919. During that time we’ve learned a thing or two about the insurance needs that are unique to New Jersey businesses and can use these experiences to help you choose the types of insurance coverage and coverage amounts that best reflect the needs of your business today and going into the future.

We don’t treat you like a number or a policy. We treat you as individual businesses with specific and unique needs. You’re a part of our family and we want to offer you the best possible protection without overloading your business with insurance policies and coverages that are well beyond the scope of your needs. We believe that your needs should be explained to you in straight language you can understand and work hard to do just that.

Call Otterstedt Insurance Agency today, at (201) 227-1800, with all your questions about directors and officers liability insurance and to get a free rate quote.

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