Triple-I — D&O Coverage Critical for Some Businesses
Published November 5, 2024 at 11:38 AM · News Releases and Bulletins
The Insurance Information Institute (Triple-I) says a lot of businesses do not understand the importance of having directors and officers (D&O) insurance. They get the need of insurance to cover assets but D&O is a bit of a mystery.
As we know, business leaders are sometimes targeted when claims arise over regulatory issues or some employee issues like a safe working environment.
Here’s what Triple-I contends many businesses don’t know:
- Shareholder lawsuits over poor stock performance
- Suits filed by creditors and investors over mismanagement or not upholding fiduciary duties
- Misrepresentation of a prospectus
- An officer of the company making decisions that exceed their authority
- Breaking the law or failing to obey regulations
- Issues with human resources or employment practices
- Cyber liability
- And more
Here 11 types of businesses very much in need of D&O insurance according to the Triple-I:
- Communication Services
- Media
- Entertainment
- Communication equipment
- Technology
- Manufacturing
- Food and beverages
- Specialty chemicals
- Integrated freight and logistics
- Diagnostics and research
- Basic materials
Source link: PropertyCasualty360.com — https://bit.ly/3YCg1PT