Directors & Officers Require Liability Coverage

Directors and officers liability insurance (D&O) is designed to cover the corporation and the directors and officers serving on their board. Members of a company’s board of directors can be charged with liability for a number of actions or inactions pertaining to the business. However, in many cases where corporate interests may clash with those of the individuals responsible for managing its affairs, the coverage may differ.


While an indemnity policy protects the corporation, a D&O policy covers the individual acts of directors and officers, which without, they would face serious exposures. When the corporation is at fault, it would be covered solely by an indemnity policy, which is available from oc insurance.


D&O is a vital part of any liability coverage package


Any company, including non-profit organizations, charitable trusts, and civic associations can all benefit from a D&O package. The one common thread that binds them together is the concept of a duty owed by an officer or director to its constituents, such as employees, shareholders, and the corporation itself. D&O liability came about as a solution to such matters as breaches of fiduciary duty and good faith that were beyond the common law courts.


Anyone suffering any sort of damages at the hands of board members, from a drop in share price to wrongful termination, can accuse the actions of members or a manager of having breached a corporate duty. Many consider D&O coverage an integral piece in the field of liability concerns. It was designed to protect officers and directors, as well as the corporate entity, and was concerned with issues related to business litigation. There are many different types of issues involved, such as public policy concerns, fraud, illegally releasing trade secrets, unfair competition, and employment practices.


Many of these exposures require a need for coverage of a broader type. D&O policies will not cover criminal activities, and are primarily concerned with civil remedies. Private company risks are less concerned with securities violations. Their main exposure is to employees with regards to employment practices, but any company that employs one or more individuals (or deals with customers, clients, competitors, the government, or other third parties) has a D&O exposure, making the purchase of a directors and officers liability policy from oc insurance a smart choice.


Part of the process in keeping workers comp insurance rates low is ensuring an accurate portrayal of your loss history. Reviewing your claims history with help to make sure no errors are in your record, possibly inflating your premiums. Speak to a representative at oc insurance to discuss any questions you have pertaining to this vital coverage.


Get the Right Orange County Auto Insurance for You

Your car isn’t just a means of transportation; it’s a member of your family. That’s why Orange County insurance agencies like Signature offer a wide range of policies to ensure you have the coverage you need. Whether you need to insure your family car or truck, the dune buggy you use on the weekends or the antique car you have carefully stored away, buying comprehensive auto insurance in Orange County has never been easier.

Make Sure Your Auto Policy Covers Everything

Auto insurance is about more than the vehicles. You want to make sure your policy covers the driver and passengers, too. Of course, you’re also going to want to be covered against any damage done to property if you have an accident. Here are a few types of liability insurance you should consider when purchasing your auto insurance:

  • Rental car usage
  • Personal injury
  • Medical payments
  • Property damage

No matter the type of vehicle you drive, OC insurance companies are ready to help you get the right type and level of protection you need to protect you and yours if the unthinkable happens. Nobody likes to need insurance, but it’s better to have it and not need it than need it and not have it.

Why Insurance Is an Asset to Your Orange County Business

No matter what kind Orange County company you have, it’s smart to invest in business insurance. Orange County specialists who understand the specific needs of corporate clients can serve as invaluable resources while advising what kind of coverage is best for you.

One reason why it’s useful to have an insured business in Orange County is that the coverage you choose may protect you from losses suffered due to interruptions in your operations. Although you can’t plan for the kinds of things that may go wrong, you can at least take steps to protect yourself in case they do.

Insurance also protects the investments you make to keep your business running smoothly, such as the commercial vehicles you’ve purchased to take on company trips or drive around to various work sites. Your insurance provider can evaluate your needs and make solid recommendations about commercial auto coverage that suits your situation.

It’s also smart to plan for potentially costly legal situations that could be made less severe if you have the proper coverage. For example, by possessing management liability insurance, you could relieve your company’s management team of the expenses and stress caused by lawsuits and legal probes.

As you can see, it’s not wise to be without business insurance. Orange County representative are ready to assess your situation and give worthy insight.

3 Ways Renters Insurance Can Save You

Are you one of the 58 percent of renters who don’t have insurance? You’re putting yourself at risk. Most renters assume they will be covered under their landlord’s insurance policy in the event of an emergency, but the assumption is incorrect. A landlord’s policy only covers damage to the building, which means you are responsible for protecting your own assets. Check out these reasons to get renters insurance in Champaign City.

Personal Possessions

Whether your electronics are damaged in a flood or you lose everything to a fire, renters insurance is essential for covering losses. When choosing a policy, tally the value of your furniture, electronics, clothing and other possessions to determine how much coverage you’ll need.

Living Expenses

If your rental becomes unlivable and you don’t have insurance, you’ll need to pony up the costs to stay in a motel or find a new rental. Purchasing insurance in Champaign City helps to ensure you have the money you need for temporary housing in a hotel while your rental is repaired.

Medical Expenses

If someone is hurt in your rental unit, you are responsible for them. If they don’t have their own insurance, you could find yourself with hefty medical bills to pay. Renters insurance will help you cover those expenses.

When purchasing insurance in Champaign City, research the providers first. Choose a licensed insurance agency with experience in providing renters insurance. Excellent client reviews and exceptional customer service are also important.


CMP Insurance Protects Against Liability

Civil money penalties are sometimes levied by courts against individual directors and officers of financial institutions for alleged wrongdoing. In the past, these institutions would commonly offer an insurance policy to directors and officers to protect against liability for such penalties; however, in recent years the FDIC has made it clear that financial institutions may not provide civil money penalties insurance for their directors and officers. This has left directors and officers of banks and other financial institutions around the country exposed to liability for civil money penalties imposed on them during their service to their institutions.

While the financial institutions themselves may not provide their directors and officers with civil money penalties insurance, the individuals may purchase the insurance for themselves. These policies typically have low deductibles and cover up to $250,000 in civil money penalties in the event that the insured is personally penalized by a regulatory body as a result of an investigation, though they do not cover the costs of the director or officer’s defense. Personal CMP insurance policies provide new options for officers and directors who previously had no coverage for civil money penalties and allow them to feel a bit more confident that their assets will not be at risk due to their service on a bank board.

Do You Need to Protect Your Company Against Internet-Based Threats?

You almost certainly heard about the growing number of incidents related to cyber crimes. However, maybe you have a very small company and think there’s no need to invest in cyber risk insurance in Indiana because you’re under the impression hackers would never even consider attacking your business.

The reality is, if you store customer data electronically or handle credit card transactions, you possess valuable information that cyber criminals want. You cannot merely look at the size of your company when deciding whether to get insurance against cyber threats. If your employees use the internet for any part of their work, you’re potentially at risk without adequate insurance.

Representatives who specialize in helping customers get internet-related risk coverage can clarify precisely what is covered within your selected premium. There are packages that shield you from the effects of cyber terrorism, data breaches, loss of electronic data and much more. By possessing this type of insurance, you could also get compensated if a cyber attack hinders normal business operations.

Make a wise decision and get in touch with a company that provides cyber risk insurance in Indiana. The internet is only growing in its dominance, and the more your company depends on it, the more at risk you may be for potential attacks.


Renters Insurance and Safety Tips

While landlords are responsible for the building and the units they rent out to their tenants, renters must protect their own personal property by investing in renters insurance. This will ensure that they are covered in the event their personal items become lost or stolen.


The best way to protect belongings you’ve worked hard to obtain, especially when it comes to valuable and sentimental items, is to contact an insurance agency in Texas and discuss your policy options. In the event that something happens that causes damage to your personal property, you can rest assured that you’ve taken the necessary steps to at least get properly reimbursed.


Keep inventory of all valuables


You’ll want to come up with an accurate estimate for the value of all of your personal items. Do a thorough inventory of everything in the apartment and list the estimated cost for replacing each item. Add it up and make sure the insurance you purchase will cover this amount.


It may sound like an awful lot of work, but consider the alternative. Simply set aside a little time each week, make note of any major items, and make a habit of keeping receipts for new purchases. You can also use email confirmations of online purchases as proof. Save all the information gathered in a spreadsheet or whatever preferred format you choose.


Photos are great for cataloguing items 


Take the time to photograph each and every last item you own, making sure to get snapshots of the most valuable pieces you own. Include furniture, electronics, and any jewelry. Even if you think some items hold little or no value, snap a few pictures of everything. Leave to the adjuster to determine what the value may be. Also, record anything with a serial number or identifiable marks in the event they are stolen.


Keep list of important items in a safe place


Make a copy of the inventory, along with the renter’s insurance policy, and upload the photos online, storing everything somewhere safe outside of your dwelling. A safe deposit box is a safe bet, or a trusted friend’s place, or in an online cloud storage system. These are all good places to keep your records.


When renewing your insurance policy each year, be sure to make a note of any new items acquired and add them to these records. If you change the insurance agency in Texas you currently are working with, make sure to include this information on your new policy.


Why You Should Consider Renter’s Insurance

If you do not own the home you live in, you probably rent your living space. As a tenant, you might want to consider apartment rentals insurance in Champaign Illinois as it could end up saving you a lot of grief in the long run.

Protect Your Personal Possessions

Insurance can help recover losses in cases of damage or theft. You might not realize how much the things you own are worth, but the cost of clothes, furniture and other personal belongings can quickly add up.

Don’t Be Liable for Your Guests

Unfortunately, if someone visits your home and they are injured for any reason, you could find yourself liable for their injuries. Insurance can be a great asset and can help cover you in situations like this.

Find Help If Your Place Is Unlivable

Regrettably, disasters happen, and in extreme cases, your landlord might not be able to cover the expenses of a place for you to live in the meantime. Fortunately, apartment rentals insurance in Champaign Illinois might be able to help you with the cost of finding a new property.

Living in an apartment can be great since you are free to leave as soon as the lease is up and you don’t have to worry about the upkeep of the building. It is, however, imperative to protect the items you keep in your apartment, and renter’s insurance can help provide this peace of mind.

How Financial Institutions Protect Themselves From Risk

For professionals who work in the financial sector in banks, credit unions, savings and loan companies or other financial institutions that safeguard depositor assets, liability is an important concern. Handling money carries inherent risks that need to be mitigated in order to have a financial institution that runs smoothly and with integrity. Bankers professional liability insurance is one of the most important ways that those working in financial institutions manage their risks.

What Liability Insurance Covers

Insurance policies for financial institutions offer specific coverage that isn’t necessarily found in a general liability policy, because the risks inherent in doing business in this sector differ from a more generic business setting. For example, financial institutions are at risk for negligence lawsuits if investors or borrowers claim they weren’t properly informed of risks.

Other Factors To Consider

In addition to the risk of negligence, financial institutions must also consider other risks they may be exposed to, in order to determine the right policy structure for their particular needs. An insurance professional can help determine the appropriate policy limits and any additional coverage that may be advisable.

Bankers professional liability insurance is crucial in risk management for financial institutions. The right coverage ensures that financial professionals are protected in the event of a lawsuit and its ensuing expenses.

Get The Right Insurance For Your Boating Needs

When owning and operating a water vessel you must maintain safety at all times. Even if you are as safe as you can be there will still be times when an incident occurs that is completely out of your control. You may have experienced, at one time or another, a situation in which you’ve had to avoid a reckless boat operator who either wasn’t paying attention, or experienced some type of distraction. In either case, had you not been practicing safety you could have been involved in an accident. This is why we express the need for insurance for California boats.


After all, it may only take a split second to cause thousands of dollars in damage to your boat, not to mention the risk of serious injury. Help protect you and your boat in case of accident, liability, or even theft, so you can concentrate on more important things, like getting back to having fun cruising along the marina.


Why insurance coverage is so vital


Your boat was probably a major expense and something you take special pride in owning. That’s why it’s important that you do your part to help protect your boat, Jet Ski, transport trailer, or any other marine equipment that you own, in the event that they’re stolen or suffer major damage of any sort. Also, you need to help safeguard yourself as well as your family and friends in case of a lawsuit resulting from an accident that you’re involved in.


Boat insurance is not only a necessity for protecting you and your passengers, it’s there to protect your assets from being seized due to a lack of insurance or not being properly covered in the case of a major incident involving a large settlement figure. The right boat coverage can keep you from having to pay for damages out of pocket in the event of an accident. Getting quality insurance for California boats that’s the right fit for you is the best thing you can do for yourself. Talk to an agent that can offer you comprehensive, liability, collision and other boat coverages at affordable current rates.