OREGON DIRECTORS & OFFICERS LIABILITY INSURANCE
As an Oregon business if you assemble a Board of Directors you would want to have Directors & Officers liability in place. Directors & Officers liability is also known as D & O insurance, this insurance will insurance your business against the risk of personal legal action against directors & officers of your Oregon company.
Common activities leading to Directors & Officers claims might include:
- Acquisitions. mergers, management buy-outs, sale of corporate assets
- Foreign investment
- Breach of contract
- Waste or mismanagement of corporate assets
- Bankruptcy or liquidation of the company
- Changes in ownership
- Employment practices which would include termination, discrimination, harassment
- Defamation, libel, or slander
- Misrepresentation & non-disclosure
- Breach of duty care
- Unpaid wages
- Unremitted withholding of taxes
Director's & Officers coverage is going to protect both the assets of your company and the personal assets of the individuals who are directors and officers of the company.
This type of coverage is going to reimburse the company for amounts paid to directors and officers for expenses incurred as a result of claims made against them for wrongful acts and to which they are entitled by the company's bylaws. Exclusions on this type of coverage would include illegal personal profit, illegal securities transactions, & deliberate dishonesty.
