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Protection for Directors and Officers of for Profit and Not for Profit Entities against allegations of failure to perform their duties.
For Non Profit Corporations and Profit Corporations may vary but will include Audited Financials, Bylaws, List of Directors & Officers (these are reviewed annually looking at financial stability, adherence to Bylaws etc.).
Not required by law, but having it in place would help to attract quality directors and officers to your organization.
Misleading representations, Neglect or Breach of Duty, Breach of Contract or copyright infringement, Unpaid wages, conflict of interest, “oppressed” shareholders creditors or employees, wrongful dismissal.
Varies depending on whether it’s a Public or Private entity, but rating based on limit of coverage requested, operating budget/annual revenues, any US exposure, prior loss history.
If you would prefer to speak with a representative, Josslin would be happy to provide you an estimate on your insurance. Please contact Cyrus Taghizadeh or Steve Wagler if you have any questions or would like an estimate for your Directors Officers insurance.