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Insurance

Benefits of Directors and Officers Insurance for Private Companies

By January 17, 2020 No Comments

With today’s emphasis on corporate transparency and accountability, organizations directors and officers face a countless number of exposures. Regardless of your company’s size or mission, the legal costs associated with a lawsuit can be crippling for both the organization and your directors and officers.

Many wrongly assume that directors and officers (D&O) insurance is only for publicly traded companies. However, privately-held organizations can just as easily fall victim to lawsuits that can impact the company, its officers and board, making D&O insurance a must. Specifically, D&O insurance can provide the following benefits to privately held companies:

Legal cost reimbursement
Peace of mind
An improved ability to attract new directors
Coverage for regulatory exposures

Many private organizations don’t think they need D&O insurance. This can be dangerous thinking, as just one D&O claim can drain the personal assets of a company’s leadership team. To learn more about D&O insurance, contact our agency at (541)889-9181 or email us at contact@waldoagencies.com.