For more than 40 years, Evans, Pires & Leonard has been serving top-quality businesses in Connecticut and beyond. One of the privileges of that service is working as a partner with the region’s finest business leaders. We provide not only the insurance and advice that protects their companies, but also coverage that safeguards the directors and officers who pilot the business.
Our directors and officers insurance (D&O) in Connecticut is available to privately and publicly held companies, nonprofits and associations. We examine your bylaws, organizational structure and activities with you to determine the best options in D&O coverage for your leadership. There are multiple types of policies, each responding to a different need. Side A coverage insures individual directors and officers to protect their personal assets. Side B coverage reimburses the company for costs incurred when the company indemnifies directors and officers in a claim. Side C coverage protects the company itself when it is named as a defendant in a claim.
D&O insurance typically covers legal fees, settlements and some damages. Some policies will also help pay for investigative costs. But D&O insurance often specifically excludes certain damages and punitive fees, such as fines, so it’s important to be precise about the language in the insurance contract. Because directors and officers insurance is limited in what offenses it will cover, it has to be part of a comprehensive portfolio of protection. In general, it covers your leadership for errors, negligence, and failures to comply with regulations regarding company finances or operations in a broad sense.
There are multiple ways to construct D&O coverage, with combinations of policies that maximize protection and minimize gaps. Your Evans, Pires & Leonard advisor will talk to you about the advantages and details of each and guide you through the complexities.