Arizona Directors and Officers Liability Insurance
When we discuss Arizona Directors and Officers Liability Insurance, we are referring to a liability policy whose coverage provides protection for past, present and future directors and officers of for-profit companies, privately held firms, non-profit companies and educational intuitions from damages resulting from acts alleged or actual wrongful acts that directors and officers may have committed in their positions with the company.
This type of liability policy provides protection in case there's any actual or alleged error, omission, misleading statement given or breach of duty. In effect, the policies function as a management of errors and omissions liability insurance covering claims resulting from managerial decisions that have severe financial consequences. When a company assembles a board of directors, it is a wise business investment to acquire a Directors and Officers Liability Insurance coverage.
Please note that this type of policy is not errors and omissions liability coverage. Many times, clients confuse these two types of coverage. An Arizona directors and officers insurance policy is very important for any company that has officers responsible to investors or a board or if there's a possibility a lawsuit is able to breach the business veil and hit executives directly. This insurance plan will be a safeguard against that scenario as well.
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