The directors and officers of large corporations and non-profit organizations always face the risk of lawsuits being brought against them. Directors and Officers Liability Insurance is also known as D&O is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, to cover damages or defense costs in the event they suffer such losses as a result of a lawsuit for alleged wrongful acts while acting in their capacity as directors and officers for the organization.
Directors and Officers are fiduciaries of the corporation they serve and therefore, carry with them a host of legal obligations that can result in loss exposures for corporate wrongdoing. They can be held personally and financially liable for actual or alleged breach of duty in the course of managing the affairs of a corporation and ensuring its compliance with the numerous laws and regulations that govern its operation.
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