Delaware Directors And Officers Liability Insurance
(Quotes, Cost & Coverage)

Get Delaware directors and officers liability insurance quotes, cost & coverage fast. DE D&O covers directors and officers for claims made against them while serving on a board of directors and/or as an officer of a company either for nor non-profit.

DE D&O Insurance

As a DE business owner, having the coverages that you need in order to protect your business, yourself, and your employees. While there are a lot of insurance policies available to shield your business, one type of coverage that many business owners overlook the importance of is Delaware directors and officers liability insurance.

Many business owners assume that claims are filed against directors and officers of large, well-known public companies. However, this is a misconception. As a matter of fact, private and non-profit businesses that are on the small side and aren't widely known are also at risk of facing directors and officers litigation.

Lawsuits are becoming increasing common in today's business world. And, considering the fact that the cost of a D&O lawsuit could end up costing a business hundreds of thousands of dollars that could cause financial devastation, it's important to make sure that you have Delaware directors and officers liability insurance coverage.

Does My Business Need Delaware Directors And Officers Liability Insurance?

If your business has a corporate board, an advisory committee, or has any other type of officer, you should seriously consider investing in a Delaware directors and officers liability insurance policy.

You don't have to make millions of dollars in revenue for your board of directors to have a personal lawsuit filed against them. Businesses that are on the smaller side and don't generate a sizeable revenue are likely to need the protection that this type of coverage offers just as much, if not even more so, than large public companies.

What Does Delaware Directors And Officers Liability Insurance Cover?

DE directors and officers liability insurance offers protection for the personal assets of a business' board of corporate directors and officers, as well as their spouses, if they are ever faced with a personal lawsuit. This includes any lawsuits that may be filed by employees, vendors, investors, customers, competitors and various other people, and suits may filed for real or alleged wrongdoings that have occurred while managing a company. This policy usually protects a business, too.

A Delaware directors and officers liability insurance policy covers any legal costs, including attorney and court fees, as well as settlements, that may occur when a personal lawsuit is filed against a company's corporate directors and officers.

Why is D&O insurance so important? There are a number of reasons why someone might decide to sue an officer of a business. Some examples include:

• Using business money in a way that it is not intended to be used
• Fraud
• The misrepresentation of the assets that a company offers
• A breach of financial duties that ends up causing financial losses or even bankruptcy
• Not complying with laws that are established for the workplace
• Misconduct or inappropriate behavior in the workplace, such as sexual harassment
• Stealing the ideas of another business and making revenue off of those ideas
• Theft of a competitor's customer base

While Delaware directors and officers liability insurance does cover a wide variety of lawsuit types, it is important to note that a policy usually does not cover any illegal actions or profits that may be made in an unlawful way.

What Delaware Directors And Officers Liability Insurance Doesn't Cover

D&O insurance typically does not cover (excludes):

• bodily injury and property damage
• fraud and dishonest acts
• pollution
• breach of contract

Most of the time, a DE D&O policy will include endorsements with additional exclusions based on the applicant's risk characteristics. These exclusions might relate to areas such as professional services, antitrust, medical malpractice, and publishing.

Types of Directors and Officers Liability Insurance Coverage

When it comes to D and O insurance, people who own a business have several options to choose from and can adjust their polices to their needs. However, there are three main types of coverage. This includes the following:

• A-Side Coverage. This coverage protects directors, officers and in some cases, employees, for attorney fees, settlement costs, or judgments if a business is unable to cover them.
• B-Side Coverage. This coverage shields the company for any losses that directors, officers and employees may experience if a business is unable to cover them.
• C-Side Coverage. This is also known as entity coverage and it protects the company itself. This coverage my minimize the limits that are available to coverage for individual directors and officers.

How Much Does Delaware Directors And Officers Liability Insurance Cost?

How much does Delaware directors and officers liability insurance cost? There are several factors that affect the cost of directors and officers insurance coverage. The type of business you run, the amount of revenue you may, and whether or not there have been any legal claims filed against your company in the past are all factors that are taken into consideration when determining the cost of coverage.

Further Reading On Management Liability Insurance

• Directors And Officers Insurance For Nonprofits
• Directors And Officers Liability Insurance
• Educators Legal Liability Insurance
• Employment Practices Liability Insurance
• Fidelity And Crime Insurance
• Sexual Abuse And Molestation Insurance
• Sexual Misconduct Liability Insurance

DE Directors And Officers Liability Insurance Quotes

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