DIRECTORS AND OFFICERS INSURANCE
You might want to get a policy that has coverage for Employment Practices Liability in case of a discrimination or harassment lawsuits. This is a more prevalent exposure to worry about. In the case of Homeowner Associations, you will want to get Fiduciary Bond Coverage with your Directors and Officers insurance.
Who needs Directors and Officers Insurance? Stockholder, clients and employees can claim against the organization and directors of the organization. (Directors of companies are personally responsible for the ongoing acts of the company). A Director would want to protect their assets by having this insurance. If you do not obtain this type of insurance, you will see less interest from others to become a corporate director in your company. That is a chance most people just dont want to take.
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