Financial Aid for the Litigation Against Executives

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Daniels

Today’s business professional is bombarded with threats of liability from with and without. Employees can bring claims of mistreatment or document mishandling, just as clients or consumers can bring claims against the company and its leadership in areas of fraud, breach of contract, or other areas where a negative financial consequence or loss was experienced. Maintaining a proactive stance against the potential financial and business risks these claims pose can be done through E&O executive liability insurance.

The Problems That Arise

According to the experts at Daniels agency, one of the most difficult challenges of leadership roles is the nagging concerns of personal liabilities that may be associated with their actions. There has been an increase in corporate and professional litigation due to areas that include the following:

  • Increased bankruptcy
  • Corporate scandals
  • Legislation changes

An insurance policy that addresses these risks is a financial safeguard that can support legal counsel through a provision of funds in the event of a lawsuit. Even though an employer may carry a comprehensive liability policy, the professional liability associated with being a director or officer can extend past corporate provisions and hold an individual personally responsible for decisions they may have made. A policy can help the funds needed for legal defense, settlement requirements, and court costs. Errors and omissions for executives is not a policy that should be overlooked.

This post was written by , posted on November 27, 2019 Wednesday at 9:56 am