You Are The Face Of The Business
You spend hours working, pitching, strategizing, and socializing in an effort to build your company. And as a result of that, you’ve become one of the faces of the company. If someone sues you, the legal process can be destructive. Protect yourself from risk with directors and officers liability insurance.
What Does Directors & Officers Liability Insurance Cover?
Directors & officers liability insurance will cover costs that come with lawsuits (including legal fees) if you or your organization are sued. And it’s a must-have for anyone who serves as a director or officer for both for-profit companies or nonprofit organizations.
Since no two companies are the same, the risks that leaders face can vary a lot — which is why coverage needs to be tailored to specific individuals. One plan does not fit all. It’s also important to note that this type of insurance will provide a lot of coverage, but it won’t protect individuals from criminal activity, fraud, or illegal profiting.
How Much Nonprofit Directors and Officers Insurance Do I Need?
Just like for-profit organizations, no two nonprofits are the same. The amount of nonprofit directors and officers insurance you need typically depends on the size of your organization.
For nonprofits with no employees, you can purchase $1 million in directors and officers limits for about $600 per year. If your nonprofit has a few employees, you’ll likely pay closer to $1,200 per year. For nonprofits with up to 50 employees, you’ll pay closer to $4,000-$5,000 per year.
Make Sure You’re Protected While You Work
Interested in seeing what type of coverage is available for you? Talk to our team to find out how you can safeguard yourself. We’ll take your needs and unique risks into account and work to find you the right plan.