Directors and Officers Insurance
No matter how comprehensive your liability insurance in Maryland is, directors and officers in your company could still incur personal expenses from business lawsuits. You can protect your company's leadership by investing in directors and officers liability insurance (also known as D&O coverage).
What Does D&O Insurance Cover?
Directors and officers insurance is a type of liability coverage designed specifically to protect your company's leadership. This type of coverage offers protection if individual leaders of your company are targeted as part of a claim or lawsuit.
Individual leaders may become the subject of a claim for a wide variety of reasons. Sometimes an individual is charged with failure to maintain the company's safety standards. Other times, it's because an individual offers inappropriate advice or is responsible for larger-scale operations failures or poor management.
Who is Directors and Officers Insurance For?
D&O policies can be beneficial for educational institutions, non-profit organizations, and businesses of all sizes. The cost and details of the policy will vary greatly depending on the type of business or organization you run and the size of your leadership team. If your business has a board of directors or a diverse leadership team, it's worth weighing your policy options and getting a quote.
How to Get Started on Your D&O Policy
To find out more about whether D&O insurance might be a smart investment for your company or organization, contact WSMT Insurance today. We've been providing full-spectrum commercial insurance coverage for Maryland businesses since 1969, and we'd love to answer your questions and make sure you have the coverage you need.
One of our trusted agents will speak with you about your company's specific needs and your existing commercial insurance coverage. Then we will determine whether or not D&O insurance in Maryland is right for your business.