Directors & Officers Quote - click here

Directors & Officers Insurance

What is Directors and Officers Insurance (D&O)?

Most if not all companies have some form of general liability. This provides coverage against "slip and fall" coverage for physical damage or bodily injury. However the coverage does not cover for non-bodily injury or physical damage lawsuits. Directors & Officers insurance is designed to defend the directors and officers in the rare case of a lawsuit resulting from their actions. Your directors and officers will have peace of mind knowing that their personal assets are not at risk with the decisions they make while serving your company.

Why would my company need D&O?

In the past ten years it has become more and more common for potential board members to request directors & officers liability as a prerequisite to joining the board. In order to recruit and keep the best and brightest, D&O is quickly becoming a mandatory coverage. Additionally, most lawsuits brought against the board are going to be thrown out of court but unfortunately the cost to defend does not. D&O can be looked at as a legal defense fund for your directors, officers and owners so that the board members, officers and businessowner do not need to fund the defense on their own.

What information should I have ready when I speak to an agent?

Please have a copy of current coverage and bill. In addition, please be ready to discuss the size of your operation, business model and make up of your company. We are looking forward to speaking with you.

Employment Practices Liability Quote - click here

Employment Practices Liability

What is Employment Practices Liability (EPL)?

The number of employment related lawsuits has steadily increased over the past 10 years. In the event of employment litigation, EPL provides essential coverage, protecting your company from the potential costs of defense. For example, an employee is dismissed and sues the company for age discrimination, sexual harrassment or wrongful termination. These lawsuits have become more and more common and EPL provides potential coverage for this type of suit.

Why would my company need EPL?

While we all like to believe that we will not be sued for sexual discrimination or age discrimination the sheer number of these suits every year make up a huge potential exposure for your company. Most lawsuits are thrown out of court but the legal fees are here to stay. Even if your human resources department has the best procedures and policies you can still be on the hook for large defense costs.

What information should I have ready when I speak to an agent?

Please have a copy of current EPL coverage and bill and information pertaining to your employment practices, policies and procedures. In addition, please be ready to discuss your business and day to day operations. We are looking forward to hearing from you.

Professional Liability/Error and Omissions Quote - click here

Professional Liability / Errors and Omissions

What is Professional Liability-Errors and Omissions (E&O)?

Businesses providing professional services (Architects, Surveyors, Accountants, etc.) have potential exposure from unhappy clients that feel that they've been harmed by the action or inaction of your business. General liability covers businesses for bodily injury, physical damage and advertising injury but professionals are exposed to potential suits through inaccurate advice, negligence, misrepresentation, or violation of good faith and fair dealing. Professional Liability - Errors & Omissions provide coverage for this potential exposure.

Why would my company need Professional Liability-Errors & Omissions?

The primary reason for obtaining this coverage is to cover the actions of your professional business. If your actions were seen by an unhappy client to cause financial losses, which could potentially be attributed to your company, you could have a large exposure for defending the lawsuit. The cost to defend a lawsuit that gets thrown out of court is enough to justify purchasing Professional Liability and E&O to your insurance portfolio.

What information should I have ready when I speak to an agent?

Please have a copy of your current Professional Liability or E&O policy and bill at the ready. In addition, please be ready to discuss your business in depth with a Madison Insurance Agent. We are looking forward to speaking with you about your company.