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Directors & Officers/Employment Practices Liability Insurance

Directors & officers insurance and employment practices liability insurance coverage provides companies with extensive coverage that protects members of the board as well as other employees. Risman Insurance Agency provides cost effective, comprehensive coverage that will keep your company safe from the challenges that you face when doing business.

The simple fact of the matter is that everyone makes mistakes at some point in time. With the right D&O insurance and EPLI coverage in place, can rest assured with the knowledge that you have a policy that will effectively meet the unique needs of your organization.

The experienced professional insurance specialists take the time to work with you. We understand how incredibly busy you are, so we will answer all of your questions and address all of your concerns right away without any hassle.

D & O Insurance Protects You From Liability In The Boardroom

A D&O insurance policy will protect the directors and officers of your organization from the liability risks that are associated with working on the board. Such risks often include:

  • Omissions
  • Negligent Acts
  • Wrongful Termination
  • Antitrust Violations
  • Slander
  • Libel
  • Misleading Statements

Any one of these things can result in legal action being taken against your company. Therefore, it is crucial that you are protected from all of these risks with a proper directors and officers insurance policy firmly in place.

Legal action may be taken against the directors and officers by the company itself by former or current employees, directors, officers, investors, shareholders, venders, competitors, customers, lenders, government official, consumer groups and a number other third parties. Even though there are a large number of entities that could possibly sue the members of your board, the lawsuits that may be filed seem to be limitless.

A minority shareholder may decide to sue major shareholders with a claim of breached fiduciary duties. The minority shareholder can claim that the other shareholders draw excessive bonuses and salaries, which cause the company to lose money. Even if the court does decide to rule in the favor of the majority shareholders, the cost of defense can be considerably high.

Your company may bring on a new hire that was formally employed by one of your competitors, making them an officer within your organization. Within a year or so, the company that the new officer used to work for may decide to sue them on the basis that they misappropriated secrets of the trade, violating provisions of a termination contract. Again, the court costs alone from such a case could be extensive.

These are only a couple of situations that you will be protected from with D & O insurance from Risman Insurance Agency. Your coverage may also include corporate reimbursement coverage, which will protect the directors and officers of your company. Your insurance agent will take the time to fill you in on all of the details of your policy, so you will understand exactly what is and what is not covered.

What You Should Know About EPL Insurance

In this day and age, it is hard to run a business without taking a risk of being sued for one thing or another. People these days are suing employers for everything under the sun and it is the companies that are taking the fall. Your current business liability insurance may protect you from claims made by customers, but you need employment practices liability insurance to keep you protected from prospective, current and former employees.

When you are shopping around for an EPLI policy, it is quite beneficial to have the assistance of an insurance agent. Our agents will build a relationship with you, which will make it possible for them to provide you with the exact variety of coverage to meet your EPL insurance needs at a competitive price.

Employment practices liability insurance policies are designed specifically to protect companies from lawsuits that are brought on by their employees. They provide coverage for a wide variety of situations that a general liability insurance policy will not cover.

Even when a lawsuit is thrown out of the court or ruled in your favor, the cost is still high. Securing legal defense for a case may be enough to close down a small business. Therefore, it is vital to have EPL insurance to ensure the financial security of your business.

All companies are vulnerable to lawsuits. Small companies that do not have a legal team in house are often the most vulnerable to these claims. A Risman Insurance Agency representative can help you make sure that you, your officers and the overall success of your business are protected against a wide variety of threats. To find out how affordable this valuable protection is, simple click on the quote request button now before it is too late. You will receive a response quickly with you risk free quote.

Risman Insurance Agencies

689 Fellsway
Medford, MA 02155

Byette Insurance

743 Main Street
Tewksbury, MA 01876

A&K Fowler Insurance

200 Park Street
North Reading, MA 01864

Marvin Kaplan Insurance

689 Fellsway
Medford, MA 02155

Hurley Insurance

7 Federal Street
Danvers, MA 01923

Delaney Insurance

2287 Dorchester Avenue
Dorchester, MA 02124

Phil Richard Insurance

27 Garden Street Unit 1B
Danvers, MA 01923

TF Ward Insurance

403 Franklin Street
Melrose, MA 02176