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Insurance for Asset Managers

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What is directors and officers Liability insurance?

Unlike a commercial general liability insurance (CGL) policy that provides coverage for claims arising from property damage and bodily injury, a directors’ and officers’ liability (D&O) policy specifically provides coverage for a “wrongful act,” such as an actual or alleged error, omission, misleading statement, neglect
or breach of duty.
A D&O policy provides defense costs and indemnity coverage to the entity listed on the policy, which may include:

  • Coverage for individual directors and officers
  • Reimbursement to the business for a contractual obligation to indemnity directors and officers who serve on the board
  • Protection for the organization or entity itself

Indemnification provisions are typically included in the bylaws of the organization. While these are an important risk component, small to midsize privately held companies often do not have the financial resources to fund the indemnity provisions, making the bylaws hollow. A D&O policy can provide an extra blanket of security in the event of a covered loss.

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Frequently Asked Insurance Questions

Currently, insurance carriers are fairly lenient on policy lapses. It is generally a good idea to keep your construction insurance policy and bond in force. 

If you have a lapse in coverage and are having trouble finding coverage, one of our construction insurance specialists will do everything to get you insured.

Call (425) 242-5357

First Underwriters Construction insurance specialists will shop our network of over 100 admitted insurance carriers and find the lowest down payment and monthly payments.

Call (425) 242-5357

If you've been declined elsewhere for prior losses, First Underwriters Construction Insurance Specialists will find a carrier  that will meet your insurance requirements and get you back to work.

Call (425) 242-5357