In today’s increasingly unpredictable economic atmosphere, it’s vitally important that corporate entities keep their assets stable to prevent their businesses from colossal losses. These decisions can be difficult, risky, and have far-reaching effects. The individuals entrusted with these decisions are the company’s leaders, and typically the primary stakeholders: Officers and Directors. Officers & Directors Liability Insurance can protect your business against liabilities associated with lawsuits relating to decisions made by leadership.
Lawsuits against corporate management have increased over time, leaving companies at risk of losing everything they have to contribute to society. To prevent this from happening, Carroll Insurance recommends that Texas companies protect their upper management, and by extension their entire businesses, with Officers and Directors Liability insurance.
What is an Officers & Directors Liability Insurance Policy?
Officers and Directors Liability Insurance is essentially executive insurance that can offer protection to a company against lawsuits related to decisions made by management of a company. A Texas Officers and Directors Insurance policy goes beyond what is offered with General Corporate Liability Insurance policy, in that it responds to accusations of mismanagement of a company or its finances, not just a tangible loss of an asset. This could include an accusation of mishandling of finances, risky trade practices, discrimination, or an unlawful termination, and the steep costs of lawsuits that can accompany such accusations.
As corporate lawsuits continue to increase in cost, an Officers and Directors Liability Insurance policy can be the protection that keeps your Texas business afloat.
Get started with Director and Officers Liability coverage
Don’t let one disgruntled employee or one regretful act of mismanagement cost you your company. Carroll Insurance is your trusted advisor, working with your company to assure you have the appropriate coverage for operating in todays’ risky environment.