Directors & Officers/Professional Liability
Directors & Officers insurance is also commonly referred to as D&O insurance. This insurance product is complex, but can provide essential peace of mind to anyone who works in business management or who serves on a board of directors.
Whether you work with a private company, nonprofit, or in the healthcare sector, this insurance can protect you by covering the cost it takes you to defend yourself. In the event you are sued as part of a management team, this product will cover attorney costs and any resulting settlements you are liable for. In executive level lawsuits, damages can leave you paying out of pocket for an allegation. Protect your assets with this essential coverage.
Professional liability is also called Errors and Omissions (E&O) insurance. If your company is targeted in a lawsuit by a client for providing erroneous services or failing to perform professionally, you may be found liable in a claim. In the medical profession, this type of insurance is also commonly called malpractice insurance. The benefits protect you from having to pay out of pocket for defense fees, settlements, and damages. If you have by error or omission caused a client or customer financial loss, this type of insurance will cover the amount you owe so you can get back to your life.
There is a fine distinction between these two forms of insurance, and both may be beneficial for certain individuals. Nobody is perfect, and even if you have done nothing wrong, these professional insurances can cover costs of addressing a baseless claim in court. To learn more about the distinction and whether this type of insurance is recommended for your position, contact our agents at Mosholder Insurance Agency.
We’ve been protecting the interests of professionals like you since 1922. As the insurance and legal claims environment becomes more complex, you need a trusted advisor to help you make the decisions that will keep you and your assets safe. Let us know how we can help you today by contacting us at (814) 443-6567 for our Somerset office or (814) 395-3022 for our Confluence office.