Director's & Officers
Employment Practices Liability
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.
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.
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
Failure to comply with workplace laws
Theft of intellectual property and poaching of competitor’s customers
Lack of corporate governance
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.
Employment Practice Liability Insurance will cover:
Violation of the Family and Medical Leave Act
Wrongful failure to promote
Common employee complaints are centered around wage and hour violations. This includes:
Every business is unique – talk to us today to find out if D&O and EPLI are for you and your company.