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Directors and Officers Insurance
Private Companies are not exempt from director and officer claims, a fact many owners, directors and officers do not realize. Here are some examples of claims private companies have experienced:
An equity investor is expecting a return which the company proposed. After a period of time, the return is less than expected, and the equity investor
feels the company, or specifically the board of directors, is responsible for this lack of return and files a lawsuit against the company and/or
directors.
The personal assets of directors and officers, as well as those of their spouses, can be pulled into the settlement of a liability claim against them or the
company.
Investors in a private company can file a claim alleging they were mislead by financial reports and statements showing the company was healthier than it actually was.
Non Profit Entities may have the most vulnerable corporate structure because unlike public and private companies, non profit entities do not have easy access to capital which could then be used to protect the board or officers if a claim is made against them. Directors and officers for non profit entities are volunteering to give guidance and direction to the entity and do not realize they have exposure if a claim were to be made against them.
With non profit management liability in place, the directors and officers can make their decisions and help the entity fulfill the goals and objectives they set out to accomplish without fear of personal financial disaster.
Financial Specialty has the expertise to help you understand the risks your executive group is exposed to and the ability to help you strike a balance between the acceptance and transfer of those risks.
Most allegations involve decisions, acts, errors or omissions that may have lowered stock values, compromised competitive industry position, wasted corporate assets, or overlooked significant growth or investment opportunities. These can result in financial injury to stockholders, employees, investors, and any other third parties.
