New Jersey Custom Directors and Officers Insurance
What will you do if the next phone call explodes a bombshell onto you or your company -- perhaps a million dollar lawsuit from an employee alleging discrimination, a board notification accusing of you of mismanagement, or a collective action by discontented shareholders.
It happens all too often in New Jersey these days. Without the protection of directors and officers insurance, you, your organization and the reputation you've spent years building and honing could be sunk.
But there's more. Supposing you do have directors & officers insurance (sometimes called D&O insurance) but discover it won’t protect you fully or specifically against the allegations you face, either because of a cap on the level of coverage or because it doesn’t take account of the specific rules that apply in New Jersey State.
For example, New Jersey has its own immunity statutes and corporate regulations regarding directors' liabilities. Did your insurance broker advise you on that?
D&O Insurance Expertise
It's because you need the highest level of directors and officers insurance expertise to ensure you're properly protected that you should be talking to the professionals at Warwick Resource Group.
We've been protecting businesses in the state for more than 150 years and our name is trusted by hundreds of New Jersey organizations for value, expertise and quality of service.
The aim of directors and officers insurance is to indemnify board members, senior officers and sometimes entire organizations against claims for damages for alleged wrongful acts, civil or criminal.
Our D&O insurance program has been specially developed to meet the different needs of New Jersey organizations, including not-for-profits, private companies and publicly traded corporations.
The keystone of that protection is collaboration with you to customize a plan that is both cost competitive and takes account of the particular risks you face. For example, your directors & officers insurance should reflect the likelihood of liability actions, typical costs of settlement, and crucially, defense costs you might have to pay even if the lawsuit is thrown out.
Advice and Support
Warwick Resource Group experts can also provide advice and for such issues as:
- D&O insurance for named individuals, at different levels if appropriate.
- Who pays the premium -- a surprisingly important issue.
- Definitions of "wrongful acts" and how they affect your indemnity.
- Risk management to reduce the likelihood of lawsuits
- Upcoming changes in New Jersey corporate legislation that might affect your risk exposure.
Because this is a specialist area, even if you already have directors and officers insurance, you should consult the experts at Warwick Resource Group. A review might be able to pinpoint areas where you are not adequately protected or where there may be opportunities to save you money.
And if you ever need to make a claim on your directors & officers insurance, those same experts will be there to guide and support you.
The fact is that D&O insurance could be a life-saver for your organization. There's too much at risk to neglect this critical component of business security.
Take the first crucial step towards getting your board members and senior team protected, using our Free Quote Request on this page. It opens up a channel of communication to identify your directors and officers insurance needs and highlight how best they can be met.
There's absolutely no cost or obligation to this service. We'll respond efficiently and promptly with solutions and ideas that we believe will impress you, protect you and save you money.
WRG / Libke Associates protects their clients with coast to coast insurance coverage.