Directors and Officers
This policy covers errors and omissions that occur while an individual serves as a director or officer of an organization.
Allegations may include breach of contract, conflict of interest, using company assets for personal gain, and lack of due diligence. Claims can come from competitors, suppliers, fellow shareholders, and others.
Why It’s Important
A director can be held personally responsible for acts of the company, meaning his or her own personal assets are at risk. The event that leads to a claim is often unintended. While these types of losses are infrequent, the costs can be very high.