What expenses do D&O policies cover when there’s a claim?
Should a professional have a covered claim, D&O policies usually cover attorney fees, court costs, settlements or judgments resulting from the covered decision or action. As always, coverage is subject to a specific policy’s terms, limits and deductibles.
Do both businesses involved in a merger need D&O insurance?
Making sure business leaders are properly covered when their companies are involved in mergers is complex. This is particularly complex not just because of all the changes that are made in a merger, but also because this is a monumental action that’s based on leaders’ decisions.
Because D&O insurance and mergers isn’t straightforward, business leaders who are involved in mergers may want to contact an insurance agent who specializes in these types of policies. A specialized agent will be able to help leaders ensure D&O coverage is in place throughout the full process of merging.
How much does purchasing a D&O policy cost?
The premiums charged for D&O policies vary quite a bit. Factors like the following can all have an impact on cost:
- Leader’s position and responsibility
- Organization’s size and industry
- Organization’s financial position
- Any recent insurance claims
An independent insurance agent can help leaders and businesses find out how much they’d pay for a D&O policy.