Topic

Directors & officers insurance

Insurance terms
Vicarious liability

When you have vicarious liability for something, it means you could be held legally responsible for any resulting harm even though you didn’t directly cause it. For example, a tech company could be held accountable for the actions of an employee.

Directors & officers insurance
How much does directors and officers insurance (D&O) cost?

The cost of directors and officers insurance depends on your tech business’s level of risk, as well as your policy limit and deductible.

Directors & officers insurance
What is directors and officers insurance?
Directors and officers insurance protects board members and officers if they are sued for a decision they made on behalf of your company.
Insurance terms
Prior acts coverage
Prior acts coverage, also known as nose coverage, offers protection from events that occurred before your existing policy was purchased, up to a particular retroactive date.
Insurance terms
Retroactive date

The retroactive date is the earliest point in time that your insurance policy will cover an incident or dispute. It's sometimes called the retro date or retroactive date of inception.

Insurance terms
Duty to defend

Want your insurer in your corner? A duty to defend policy makes it an insurer's obligation to provide legal defense for a lawsuit, instead of just compensating you for the claim.

Insurance terms
Claims-made policy
A claims-made policy is a type of insurance that only covers claims while it’s active. If a client lets their claims-made policy lapse before reporting an incident, the insurer won't recognize the claim.
Directors & officers insurance
What does directors and officers insurance (D&O) cover?

Directors and officers insurance covers the legal costs when your business’s board members, directors, or officers are sued over decisions they made on behalf of your company.

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