D&O Insurance (Directors and Officers)

Directors & Officers Liability

Directors & Officers Liability (D&O) insurance is a fundamental corporate and individual asset protection product offered by Goodman Gravley Insurance Source, which provides coverage to officers and board members for damages (settlements or awards) and defense costs that arise from lawsuits alleging various wrongful acts. Executives and Officers can be held personally responsible for their actions, and D&O claims can come from a variety of sources including but not limited to customers, clients, consumers, competitors, suppliers, governmental & regulatory agencies, employees and shareholders. D&O can cover:

  • Actual or alleged management errors or omissions
  • Any misrepresentation, misleading statement or misleading action
  • Neglect or breach of duties by the individual directors and officers

Employment Practices Liability

Employees today know more about their rights and have a heightened awareness of employment practice issues/concerns. Companies need corporate and individual asset protection consulting services for EPL insurance to protect them from this potentially catastrophic risk. Employment Practices Liability (EPL) insurance protects your company by insuring the company, directors, officers and employees for actual or alleged employment wrongful acts including:

  • Wrongful termination
  • Discrimination
  • Sexual & workplace harassment
  • Failure to hire or promote
  • Failure to enforce adequate workplace policies and procedures

Fiduciary Liability

As a result of the Employment Retirement Income Security Act of 1974 (ERISA), benefit plan sponsors and their trustees/fiduciaries are personally liable for losses to the company’s benefit plans in the event there was a breach of their fiduciary duties, and costs can be staggering. As such, the cost of coverage is reasonable given the economic climate and increased claim activity.

Kidnap & Ransom Insurance

The only way to protect your company and employees from the financial and physical threat of kidnapping is to purchase kidnap, ransom and extortion coverage. Kidnapping, ransom and extortion are a concern for business executives and travelers both inside and outside the United States. Political groups, terrorists and enterprising criminal organizations are not only targeting large multi-national companies but also smaller, domestic firms. Anyone can be a victim of kidnapping. Some of the more common policy features are as follows:

  • Ransom demand for a kidnapping
  • Bodily injury extortion
  • Expenses related to a covered event
  • Legal obligations related to a covered event
  • Accidental death and dismemberment
  • Computer system “extortion.”

Cyber Liability

It is not a question of “if” your organization will suffer a breach, but “when.” A clever hacker, a disgruntled employee or even lost physical records, whether customer data or your proprietary information, can cause enormous financial and reputational damage. The costs of a data breach can be significant and can devastate an organization if you are not prepared. In insurance terms, this is a relatively new coverage, but its evolution has been very rapid and should now be a part of every organization’s insurance program.

Olathe, Kansas Office

14812 W 117th St
Olathe, KS 66062

Phone: 913-782-1404
Fax: 913-782-4269
Email: general@ggisource.com
Hours: 8:30 AM - 5:00 PM M-F

Laurie, Missouri Office

118 S. Main
Laurie, MO 65038

Phone: 573-374-0611
Fax: 913-782-4269
Email: general@ggisource.com
Hours: 8:30 AM - 5:00 PM M-F

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