Directors & Officers
D & O Liability Insurance provides financial protection for the directors and officers of a company in the event they are sued in conjunctions with their performance of their duties as they relate to their company.
Specifically, Directors & Officers of a company are considered to have a duty of care to make informed decisions, perform in good faith, act in the best interest of the company, act not to further personal interests, and perform according to the corporate charter by-laws and governmental regulations.
Individuals who are responsible for employee benefit plans are subject to personal liability under ERISA. Plan fiduciaries can be held liable for a variety of reasons including the selection of plan investment options, monitoring those investments and educations employees on those options. Additional coverage included in a fiduciary policy is for errors and omissions in the administration of employee benefit plans. Additionally, mistakes made by benefit managers with a clear fiduciary duty can result in fiduciary claims.