Philadelphia Directors & Officers Insurance

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Directors & Officers Insurance is a type of liability insurance which covers directors and officers for allegations / claims made against them while they are serving on a board of directors and/or as an officer. The policy covers the insured in the event the insured’s managerial decisions have adverse financial consequences for the company.

A Directors & Officers policy may also extend coverage to not only the directors and officers, but to the managers and employees of the company. 

Typically the directors and officers policy will have a single aggregate limit which applies for all the claims made for that policy. What does that mean? It means that the carrier will only pay out that limit. If that limit is exhausted, the carrier will not pay out anymore for any additional defense costs for ongoing claims or any future new claims.

As with most policies, a deductible or (in the case of Directors & Officers Insurance) a retention limit can be selected.  Defense costs will first be exhausted from the deductible / retention limit and then will be deducted from the limit of the policy.

We at Founding Agency understand that the different types of policies and what they offer can be confusing, which is why we have a dedicated and knowledgeable team to help you with selecting the right coverages for your business needs.