Both Director's and Officers coverage and Employment Practice Liability are protection from accusations that involve the management of an organization.  Therefore, it is commonplace to have these coverages packaged together in one policy, however, they may also be separated out.  

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DIRECTOR'S AND OFFICERS

Directors and officers (D&O) liability insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.

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Directors and officers are sued for a variety of reasons related to their company roles, including:

• Breach of fiduciary duty resulting in financial losses or bankruptcy

• Misrepresentation of company assets

• Misuse of company funds

• Fraud

• Failure to comply with workplace laws

• Theft of intellectual property and poaching of competitor’s customers

• Lack of corporate governance

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EMPLOYMENT PRACTICES LIABILITY (EPLI)

If  you have employees, you should consider EPLI.  Some BOP policies will now offer an endorsement for 1st party (your employee) coverage or other limited EPLI coverage.  For 3rd party and more robust coverage ( customer, vendor, business invitee), consider a stand alone policy.

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Employment Practice Liability Insurance will cover:

• Discrimination

• Age discrimination

• Retaliation

• Violation of the Family and Medical Leave Act

• Wrongful discipline

• Wrongful failure to promote

• Wrongful termination

• Harassment

• Sexual harassment

Common employee complaints are centered around wage and hour violations. This includes:

• Wage calculation

• Overtime calculation

• Job classifications

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Every business is unique – talk to us today to find out if D&O and EPLI are for you and your company.

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