Directors and officers for public companies have a lot of responsibility and exposure. With all of that responsibility, there are opportunities for errors to arise and lawsuit claims to form. Lawsuits arise for a variety of reasons, both founded and unfounded. For large public companies, it is important for the directors and officers to have the right insurance coverage, especially with directors and officers insurance, or D&O insurance. The first step is to check eligibility.
The directors or officers in question should be part of a public company that has a revenue of at least $500,000. The company should have at least three practitioners working for it. In most cases, D&O insurance is available in all 50 states in the US. If the company fits within these categories, they should be able to go online to a trusted insurance carrier to download an application.
The Right Profession
The type of coverage that is available for a public company depends on the insurance provider and the policy selected. Coverage should be available for just about any profession for any public company in the US, however. With all of the responsibility and exposure that directors and officers for public companies face every single day, it is important to have sufficient coverage for any potential lawsuits. Consider D&O insurance if you do not already have a policy in place.