Often insurance for directors and officers is misunderstood with Errors & Omissions Liability, which is not incorrect in real life. D & o insurance is the full proof protection against the negligence and omission in daily performance of a director or officer of a business enterprise. In normal situations, companies seek such insurance policy, while in some companies both directors and company share the responsibility of paying off the premium of the policy taken.
Where to Get d&o Insurance?
A company can find many insurance companies and institutions to get adequate protection policy to secure the interests and rights of its directors and officers. Companies having a full-fledged board of directors usually sought for such insurance policy to protect their personnel.
Necessity of Directors and Officers Insurance
D & o insurance is important for dealing with the claims of stockholders, employees, and clients. Many a times, directors and officers are to be blamed for improper running of the company’s function and duties.
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