coverage types
Directors& Officers
Directors and officers (D&O) liability insurance protects individuals from personal losses if they are sued as a result of serving as a director or an officer of a medical organization.
better coverage
Coverage for Corporate Officers
Commercial directors and officers insurance provides a director or corporate officer of a healthcare organization protection against allegations relating to their management of the company.
lower costs
Protecting Your Practice
Protection is also afforded to the corporation itself should it be named in a lawsuit or claim. While this coverage is often overlooked, it shouldn’t be: some of the most expensive lawsuits are a result of a D&O claim.
What is Directors & Officers Insurance?
1
Which businesses are required to carry it
D&O coverage is used across the medical industry, including: physician groups, surgery centers, hospitals, labs, medical supply companies, clinics, hospices, skilled nursing homes, assisted living facilities and medical research & technology companies. Companies with physicians on their boards also purchase this coverage.
2
risks it insures against
A director or officer of a medical organization – private, public or non-profit – can be held personally liable for mistakes they make within their management roles. Not only can the business be held liable, but claims can also be made against the personal assets of that officer. D&O coverage insures against risks such as allegations of mismanagement, fraud, breach of fiduciary duties, breach of contract and misrepresentation.
3
benefits to policy holders
Because legal costs (absent of a the settlement arrangement of a claim) can make up the majority of a D&O claim expense, managing partners of medical groups are often afraid to make decisions. D&O coverage allows you to manage your practice freely, without fear of personal financial loss. As a result, it’s a tremendous asset for attracting and retaining qualified company directors.
What is Directors &Officers Insurance?
1
Which businesses are required to carry it
D&O coverage is used across the medical industry, including: physician groups, surgery centers, hospitals, labs, medical supply companies, clinics, hospices, skilled nursing homes, assisted living facilities and medical research & technology companies. Companies with physicians on their boards also purchase this coverage.
2
risks it insures against
A director or officer of a medical organization – private, public or non-profit – can be held personally liable for mistakes they make within their management roles. Not only can the business be held liable, but claims can also be made against the personal assets of that officer. D&O coverage insures against risks such as allegations of mismanagement, fraud, breach of fiduciary duties, breach of contract and misrepresentation.
3
benefits to policy holders
Because legal costs (absent of a the settlement arrangement of a claim) can make up the majority of a D&O claim expense, managing partners of medical groups are often afraid to make decisions. D&O coverage allows you to manage your practice freely, without fear of personal financial loss. As a result, it’s a tremendous asset for attracting and retaining qualified company directors.
Start building your policy today and see how StreamlineMD can deliver coverages that fit your practice.