Get Florida directors and officers liability insurance quotes, cost & coverage fast. FL 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.
As a FL 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 Florida 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 Florida directors and officers liability insurance coverage.
If your business has a corporate board, an advisory committee, or has any other type of officer, you should seriously consider investing in a Florida 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.
FL 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 Florida 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:
While Florida 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.
D&O insurance typically does not cover (excludes):
Most of the time, a FL 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.
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:
How much does Florida 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.
Request a Florida Directors And Officers Liability Insurance quote in Boca Raton, Boynton Beach, Bradenton, Cape Coral, Clearwater, Coconut Creek, Coral Gables, Coral Springs, Davie, Daytona Beach, Deerfield Beach, Delray Beach, Deltona, Fort Lauderdale, Fort Myers, Gainesville, Hialeah, Hollywood, Homestead, Jacksonville, Jupiter, Kissimmee, Lakeland, Largo, Lauderhill, Margate, Melbourne, Miami Beach, Miami Gardens, Miami, Miramar, North Miami, North Port, Ocala, Orlando, Palm Bay, Palm Beach Gardens, Palm Coast, Pembroke Pines, Pensacola, Pinellas Park, Plantation, Pompano Beach, Port Orange, Port St. Lucie, Sanford, Sarasota, St. Petersburg, Sunrise, Tallahassee, Tamarac, Tampa, Wellington, West Palm Beach, Weston and all other cities in FL.
If you are looking for state specific Directors & Officers Liability Insurance quotes, costs and information:
