Employment practices liability
Challenging economic times often bring an increase in lawsuits for a variety of employment related claims and can involve current, former or potential employees. Employment practices insurance provides your company, directors, officers and employees protection in the event of claims related to sexual harassment, discrimination, unfair hiring practices, wrongful termination, breach of contract and a variety of others. It can happen at any company. It’s estimated that 3 out of 5 businesses will be sued at some point.
Errors & omissions and professional liability
Errors and omissions insurance (E & O, professional liability or malpractice) protects you against an error that causes injury or damage to a third party. It provides you with financial protection if you are sued because someone accuses you of failing to take appropriate action or negligence causing them financial damage. It’s important to note that it must be negligence not an intentional act. E&O protection is important for a wide variety of professionals including but not limited to doctors, accountants, attorneys, architects, consultants, engineers .
Directors & officers liability
If you are a director, officer or manager of a business or a non-profit organization, your participation in planning, directing and reviewing organizational activities puts you at risk for being named in lawsuits related to alleged breaches of duty, errors in judgment and other situations that caused a third party to suffer a financial loss. Unless a business or organization has Directors & Officers coverage, individuals performing these roles have liability exposures that are unprotected and have serious financial risks. Be sure that all organizations in which you play a leadership role have proper insurance coverage in place to protect you.