Directors and Officers Coverage

You know you need excellent coverage. You don’t, however, have time to become an expert in business insurance. That’s where Lakeside Insurance Center can help you.

A Directors and Officers Policy is a line of coverage that addresses the actions of directors and officers while doing their corporate or organizational duties. It covers Directors and Officers Personal Liability, helps protect the organization, and indemnifies companies when legal action is brought on for wrongful acts. Directors and Officers Policies are intended for both Public and Private or Non-Profit Businesses. 

Duty of Directors and Officers:

  • Duty of Care – must act in the best interest of the company and its shareholders or members. 
  • Duty of Care: Requires the officers to act in good faith and a manner in the company’s best interest. 
  • Duty of Obedience: Act within the corporate charter and obey the law. This applies to both their personal conduct and the company or organization’s activities. 
  • Duty of Disclosure: Requires officers to reveal all relevant information they may have about any transactions or decisions made.

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