Ocean Falls Insurance

Directors & Officers (D&O) Insurance is a type of insurance that protects the personal assets of corporate directors and officers from financial losses arising from wrongful acts, such as wrongful termination, discrimination, and breach of contract. D&O insurance also covers the cost of defense in the event of a lawsuit, as well as any settlement or judgment that may result.

This type of insurance is particularly important for publicly traded companies, as well as for non-profit organizations, as they face a higher risk of legal action against their directors and officers. D&O insurance can also protect the company from financial losses caused by the wrongful acts of its directors and officers, which can be especially useful in cases where the company itself is not able to pay for the damages.

There are two types of D&O insurance coverage:

• Side A coverage, which covers the individual directors and officers when the company is unable to indemnify them.
• Side B coverage, which covers the company for the cost of indemnifying its directors and officers.

By purchasing D&O insurance, companies can protect the personal assets of their directors and officers, and can provide them with the peace of mind that comes with knowing that they are protected against potential legal action. This coverage can also help companies to attract and retain high-quality directors and officers, who may be hesitant to serve without this protection.

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