Government IT contractors need to protect themselves from liability claims associated with their services. While such claims may be the result of worker error, many IT workers fail to recognize the risk associated with decision makers at their companies, such as directors or officers. Business executives can place your company at risk just as easily as an entry-level employee.
GovTechTM offers comprehensive directors and officers liability insurance for protection at every level of your government IT business. Contact our team today for your free quote and discover the benefits of adding directors and officers liability insurance for your company.
What Is Directors and Officers Liability Insurance?
Directors and officers liability insurance protects companies from being liable due to a decision made by a director or officer within the business. Many fail to recognize the value in obtaining directors and officers liability insurance; however, 40% of mid-sized companies have fallen victim to a lawsuit as a result of a mistake made by a business executive. Moreover, 31% of all companies can expect to have a directors and officers claim brought against their business.
By adding this insurance option, companies can avoid financial obligation in the event they are sued due to unsatisfactory performance by their directors and officers. Directors and officers lawsuits can be brought against a company for a number of reasons, including the following:
- Wrongful termination of an employee
- Insufficient supervision
- Incorrect financial accounts
- Poor judgement
- Poorly managed funds/accounts
- Unauthorized loans or investments
- Unauthorized expansion efforts resulting in loss
The best way to protect your company against a lawsuit resulting from one of the above scenarios is by contacting GovTech for your insurance needs.
Get your free quote and protect your government IT business from liability due to a mistake made by your directors or officers.
Liability Insurance with GovTech
GovTech understands the unique needs of government IT professionals. Our expert underwriters have the industry understanding necessary to protect companies from liability claims that arise as a result of decisions made by directors and officers. Our directors and officers insurance covers the following:
- Named insured
- Present and past employees, officers, owners, or directors/management
- Legal representatives of deceased directors and officers
Policyholders will also be covered beyond the office setting, with GovTech covering personal assets, such as your home, valuables, and other personal valuables. In addition, GovTech will pay for losses up to the policy limits on behalf of the insured. We’ll also provide supplementary payments associated with investigated claims that have either been settled or defended. Don’t let a claim against your directors and officers create a financial strain on your company. Contact us to find out how our insurance coverage can help keep you protected.
GovTech for Your Directors and Officers Liability Insurance
Keeping your company safe means protection at every level, including directors and officers. Don’t let a liability claim associated with your business’ decision-makers stand in the way of your success. Get the protection you need with GovTech’s directors and officers liability insurance coverage.
Request your free quote to find out more about how our team can help you avoid financial liability for unnecessary claims.