A Specific Type Of Professional Liability Policy
When our brokers sit down with individual companies to discuss Las Vegas/Clark County, NV Directors & Officers Liability Insurance Coverage, we are referring to a specific type of professional liability policy whose main objective is providing protection for present, past, and future company directors and officers of for-profit companies, nonprofit companies, educational institutions, and privately held firms from potential damages resulting from actions of alleged or actual wrongful acts the organization’s directors and officers may have committed in their positions with the organization.
This type of professional liability policy will provide protection in the event of an actual or alleged wrongful act, breach of duty, misleading statement given, or omission by your board of directors and officers. These types of professional liability policies, in effect, serve as a management errors and omissions liability insurance which will cover a claim from managerial decisions which have severe financial consequences affecting the company. When your Las Vegas/Clark County, NV business selects its board of directors, it would be a wise investment decision to acquire Las Vegas Directors & Officers Liability Insurance Coverage. Also, if your company has investors, more than likely, one condition that will almost automatically be required to receive any kind of funding will be a stipulation that your business purchase a Directors & Officers Liability Policy, because, as we know, directors and officers can become the target of a lawsuit from shareholders, employees, vendors, customers, or regulatory agencies.