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Corporations and not-for-profit organizations must provide financial protection for the costs of legal actions that may be brought against their Boards of Directors and management teams. In many cases, corporate indemnification may not provide complete protection for these directors and officers.
Additionally, the corporation may wish to protect its own assets in the event of a lawsuit. Therefore, many firms purchase a Directors and Officers Liability Policy to cover the cost of the indemnification provided by the corporation or to pay claims on behalf of the directors and officers when the corporation is not providing indemnification.
There is no standard form for Directors and Officers Liability policies. While all policies have certain typical conditions and exclusions, each insurer uses its own policy wording and there can be differences in coverage conditions, deductibles and exclusions. Some of the issues that may need to be addressed when structuring a D&O Policy include:
William H. Connolly & Co. provides
Directors and Officers Liability policies for a wide
range of clients including:
- Publicly Traded Companies
- Health Care Institutions
- Educational Institutions
- Not-for-Profit Organizations
Ten years ago there were only a handful of companies offering this insurance. Today there are many more underwriters and coverage options available. Please contact us to see which company and coverage form best fits your needs.
- Mergers and Acquisitions
- Outside Directorship Liability
- Public Offerings and SEC Liability
- Predetermined Apportionment Percentages
- Employment Practices Liability
- Schmidt v. Smith issues (NJ only)
- Financial Institutions
- Closely Held Companies
- Bio-Tech/Hi-Tech Companies
- Start Up Organizations
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