Services for your Business
From 2001 to 2011… “21% of private companies’ respondents had a D&O claim come in, versus 69% of publicly traded companies. ” – 2011 Towers Watson Survey
- “Directors and Officers Liability Insurance (AKA Errors and omissions insurance, E&O for short) is a type of commercial liability insurance covering directors and officers for claims made against them while serving on a board of directors and/or as an officer.”* It protects your business against claims arising from your negligent acts or your failure to provide the level of advice or service the plaintiff expected.
- D&O Insurance is primarily intended for use by publicly owned companies to protect their Directors and Officers of the company from lawsuits.
WHAT IS COVERED?
- Protects businesses against lawsuits for:
- Public companies – Shareholders filing suit for financial difficulties, creditors, customers or clients and competitors.
- Non-Profit companies – Generally related to employment actions and practices.
- Private Company – Often brought on by competitors or customers for alleged fraudulent or deceptive practices.
DO I NEED IT?
- On a case-by-case basis. It is worth a discussion with your insurance broker to see if your business is susceptible to a lawsuit for your company.
- Lawsuits Are Not Cheap – $35,000 to $100,000 is the cost to defend a lawsuit. $475,000 was the average payment for an adverse judgement.
WHY CHOOSE ART RISK?
- A BROAD SERVICES OFFERING– With a comprehensive approach toward the clients’ liability insurance, ART Risk takes the burden off the business having to manage multiple insurers/policies, letting them focus on what matters most… day-to-day business.
- EXPERTISE– ART Risk’s knowledge to ensure valued clients are properly covered with a catered policy is the company’s highest priority.
- STABLE OF INSURERS– ART Risk Financial & Insurance Solutions, Inc. obtains multiple quotes to ensure clients are properly covered and competitively priced.
- QUICK TURNAROUND– Depending on the need, a quote can be provided in 48 hours after receiving all information requested and applications, giving clients the ability to choose and bind coverage within 72 hours of starting the process.