D&O insurance is increasingly important for any type of company – not just large global players.
It basically provides protection for companies, clubs and associations to protect their managers – among others – against financial losses.
Claims brought against the decision-makers of such institutions can reach astonishing levels. Decision-makers need D&O insurance to fend off unjustified claims or cover payments where such are awarded.
Claims are often brought forward by apparently outsiders or shareholders. Even the company itself may turn against its own directors or officers. The financial consequences for involved individuals can be severe.