Directors & Officers Liability

Overview

Workers compensation insurance covers the cost of medical care and rehabilitation for workers injured on the job. It also compensates them for lost wages and provides death benefits for their dependents if they are killed in work-related accidents, including terrorist attacks. The workers compensation system is the "exclusive remedy" for on-the-job injuries suffered by employees. As part of the social contract embedded in each state's law, the employee gives up the right to sue the employer for injuries caused by the employer's negligence and in return receives workers compensation benefits regardless of who or what caused the accident, as long as it happened in the workplace as a result of and in the course of workplace activities.

Classes	We have companies that provide coverage for Public, Private, and Non Profit Organizations
What is Required / Forms	Company applications  Five years of Loss Experience Financials  Speak to your Account Manager about securing the proper applications
Direction for Submissions	Complete the above forms and send them with supporting data 60 days prior to the effective date of the policy
Insurance Company Rating	All Admitted & Non Admitted Carriers are “A” Rated
Territory	All States
Coverage	Each insurance company’s policy will employ its own language, but in general terms: Insuring Agreement A, often referred to as “A-Side Coverage,” typically provides coverage directly to the directors and officers for loss – including defense costs – resulting from claims made against them for their wrongful acts. A-Side Coverage applies where the corporation does not indemnify its directors and officers. Insuring Agreement B, or “B-side coverage,” reimburses a corporation for its loss where the corporation indemnifies its directors and officers for claims against them. B-side coverage does not provide coverage for the corporation for its own liability. The language and conditions of Insuring Clause B typically mirror Insuring Clause A. Many D&O policies offer an optional coverage to protect the corporation against securities claims.
Deductibles	Starting at $5,000
Marketing Material	Ask your Account Manager
Premium Financing	Yes
Notes