Many companies have found value in having a director and officer insurance plan in place. Though other policies help to protect a business against losses, a D&O plan provides specific protection and assistance that other policies do not. Below are the top three benefits of securing D&O insurance for your business.
- Attracts Quality Personnel: Having a superior benefits package in place is a great incentive for quality employees. For those individuals in high demand the right insurance and benefits could be a strong drawing factor. Not only can proper insurance help to draw employees, but it can also serve as a motivator for them to remain with the company.
- Financial Protection: Not only does D&O insurance protect the directors and officers of the company against liability claims, but it also helps to keep the company indemnified should the individuals be found guilty. Such services can be provided without insurance, however they would end up costing the company far more.
- Peace of Mind: Though you hope not to need to use it, having a quality director and officer insurance plan in place can help to ease your mind about making certain decisions and partaking in business ventures. This can aid in opening your company up to an entirely new world of innovation.
As you can see there are strong benefits to having D&O insurance. To learn more, contact your local provider.