Director-Officer.com Now Online, Taking Quote Requests for Directors & Officers (D&O) Insurance for California Based Entities

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Director-Officer.com is now taking applications for Directors & Officers Liability (D&O) insurance for businesses based in California

Director-Officer.com

Director-Officer.com

"anyone on a board of any kind should insist on this type of coverage - profit or non-profit"

Director-Officer.com is now up and running - ready to take quote requests. The site is in its early stages, but is geared toward businesses seeking D & O insurance in California. Director-Officer.com is a site owned and maintained by Brilliant Insurance Services – a specialty insurance brokerage based in Woodland Hills CA.

The demand for Directors & Officers Liability Insurance (D&O) quotes in California has never been higher. The term Directors and Officers is sometimes called “Management Liability” and also is abbreviated to “D & O” for short. According to the CEO, David Karubian, “It is time that D & O insurance be made more available to the parties that seek the coverage. It shouldn’t have to be a huge ordeal to finding this type of coverage", says David "it is really very simple..."

What is Directors and Officers Insurance? D & O insurance policies protect the board members from suits brought against them for mismanaging the company, to put it in simple terms. Typically the policy is payable to the organization or the directors, officers, and board members to recover damages and defense costs in the event of a lawsuit for alleged wrongful acts. Depending on the particular policy, there are a few valuable extensions and coverage options, including but not limited to, Fiduciary Liability and Employment Practices Liability.

Getting a D & O quote in California is actually quite a simple process, although folks just don’t always know where to look. One of the most common misperceptions is the idea that Non-Profit Organizations do not need D & O. In fact, non-profits do need the coverage just as much as other organizations. All it takes is one lawsuit or claim and the policy would provide defense. Another common misperception is that D & O insurance makes directors and officers able to engage in acts that they know is wrong.

The number of D & O insurance quotes in California has increased over the past twelve months. In today’s economic climate, it would seem that more and more claims are being brought against companies for a wide variety of reasons. The value of the policy is in the defense. Example – a small company can purchase a $1,000,000 policy for a one-year term for $1000, but decides not to purchase the protection. Six weeks later, a lawsuit is filed and the company finds an attorney to write one letter on their behalf – the invoice for that one letter - $325 – adds up quickly. Again, the value of the policy is in the defense.

The site will most probably be updated soon and streamline the process. “The site overall is in it’s infancy, but we have plans to create an on-line application,” adds David. “We have at least ten carriers willing to quote and each one of them has their own application and the policy form differs ever so slightly from one to the other”. In the interim, folks seeking Directors & Officers insurance in California are encouraged to apply on-line or call and speak to an agent or broker.

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David Karubian
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