Propel provides innovative insurance solutions to thousands of companies across the country. We make it our business to know your world inside and out.
Employment Practices, Management Liability
D&O: Do we need it?
Consider this scenario: Your company is on a roll. You have a great leadership team in place. Your customers are happy. You’ve got plans for expansion.
But something happens. Your management team makes a decision that leads to a lawsuit. It might come from an unhappy employee or vendor. A regulatory agency. Or a competitor claiming unfair trade practices.
Suddenly your executives are facing allegations of wrongdoing. Their personal assets are on the line. And contrary to what you might think — your General Liability policy isn’t enough to protect you.
That’s why getting Directors and Officers insurance (or D&O) is a smart move.
D&O insurance:
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- protects leadership from lawsuits stemming from management actions and decisions in directing the company.
- reimburses for legal costs
D&O insurance protects your leaders from lawsuits stemming from management decisions, and pays for defense fees— which is important considering the average cost of a D&O lawsuit for a privately held company is $700,000.
Make sure your leaders have the protection they need. Learn more here.
