Professional Services Insurance
Directors & Officers Insurance
for Professional Services
Directors and officers of professional service firms can be personally sued by clients, investors, employees, or regulators for decisions made in their management role. D&O insurance pays for individual executives' legal defense and any resulting settlements, protecting personal assets from business decisions.
Industry-Specific Insight
Why Professional Services Businesses Need Directors & Officers Insurance
Directors and officers of professional service firms can be personally sued by clients, investors, employees, or regulators for decisions made in their management role. D&O insurance pays for individual executives' legal defense and any resulting settlements, protecting personal assets from business decisions.
Coverage Details
What Directors & Officers Insurance Covers
Key protections included in a directors & officers policy for professional services operations.
FAQs
Common Questions from Professional Services Businesses
Does D&O cover claims from unhappy clients?
D&O covers claims against directors and officers in their management capacity. Client service claims are typically addressed by E&O. However, claims alleging breach of fiduciary duty or misrepresentation by management may fall under D&O.
Do small professional firms need D&O insurance?
If you have a board of directors, investors, or managing partners, D&O is worth considering. Claims against management decisions happen at firms of all sizes.
Does D&O insurance cover fraud?
D&O policies typically exclude coverage for actual fraud or criminal acts where guilt is established. However, they do cover defense costs during an investigation — coverage ends if fraud is proven. This is an important distinction when reviewing policy terms.
Is D&O the same as general liability?
No — general liability covers third-party bodily injury and property damage. D&O specifically covers personal liability of executives and board members for their governance and management decisions.
Complete Coverage
Other Coverages Professional Services Businesses Commonly Need
A complete protection plan for professional services operations typically includes several complementary coverages.
Professional Services · Directors & Officers
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