Management Liability Insurance (D&O/EPLI)
Directors & Officers (D&O) Liability is the exposure of corporate board members and officers to lawsuits arising out of their actions, decisions and good-faith mistakes regarding the management of their organization. D&O Liability insurance protects the personal assets of directors and officers from defense expenses and losses, along with insuring the company's assets from liability incurred by indemnifying their D&O's, and in certain cases insuring lawsuits against the company itself (the entity).
Lawsuits against directors and officers may be brought by current or former employees, competitors, vendors, suppliers, regulators, shareholders, the corporation itself, volunteers and donors (in the case of nonprofit organizations), and others. Any organization with a Board of Directors should purchase coverage. Employers today are faced with increased legal obligations while managing their workforce. From the hiring process to the exit interview, companies are vulnerable to an employment related lawsuit. Whether a company is large or small, they are a target of legal action by past, present or prospective employees.
Employment Practices Liability Insurance (EPLI) protects a company against damages for events relating to their workforce, including but not limited to wrongful termination, harassment, discrimination and unfair hiring practices. It also provides defense costs associated with responding to employment related lawsuits and investigations. Any company with employees should purchase Employment Practices Liability Insurance.
