Litigation has become increasingly common for American businesses. From product disputes to contract and policy violations, any operation could face a variety of legal complications which could have damaging effects. The reality today is that there is a strong likelihood that many Brooklyn businesses will face legal prosecution at some point or another, yet many operations are unprepared to navigate all the allegations against them. Even those businesses which secure enough liability coverage to protect the core business from litigation, often fail to realize that their directors and officers can be held personally liable for any misconduct or mismanagement.
In order to protect their top executives, businesses must first be aware that their directors, officers and executives face risk exposures unique to their status and relationship to the company. Identifying and mitigating those unique hazards is ultimately the key to successfully protecting an operation’s executives.
One of the best measures any business can take to protect their high-level employees is to secure complete Directors and Officers (D&O) liability coverage. D&O coverage is designed to help protect keystone employees from claims made against them while serving on a board of directors and/or as an officer. These policies will help protection against the costs of legal defense and indemnity coverage for any Brooklyn business. While it is a widely held misconception that only large operations need to protect their executives, the truth is that small business executives often have more to lose and a greater susceptibility to hardships should they face misconduct allegations.
While the scale and scope of these liabilities may differ, directors and officers of Brooklyn businesses of all sizes need D&O coverage. At the Rubin Group, we partner with you to look objectively at your risks, threats and opportunities, and then we put together a plan that can mitigate the severity and frequency of outside litigation. Our Brooklyn D&O insurance is one of the many comprehensive business insurance solutions we offer. Let our experienced New York risk management specialists help protect your assets. To learn more, give us a call today at (877) 806-7239.