A staffing agency and its leadership/board of directors need Directors & Officers (D&O) insurance to protect against both corporate and personal liabilities from claims made against them by numerous stakeholders, including but not limited to employees, shareholders, creditors, competitors, regulators, customers and others. Directors and officers are sued for a number of reasons connected with their company positions, including misuse of company funds, misrepresentation of company assets, fraud, and lack of corporate governance among other issues.
D&O Liability insurance protects corporate directors and officers in the event they are personally sued – often in addition to the company being sued. The insurance protects directors and officers by covering legal fees, settlements, and other costs; in addition, the coverage sometimes can extend to protect the company if it is named in a suit, as well.
The insured has the choice to include Fiduciary Liability on our D&O Policy.
Our Directors & Officers policy steps in to protect a staffing firm for legal actions alleging bodily injury and or property damage. For the insured’s contract employees (temporary placements), our occurrence-based policy specifically extends coverage to the insured for damage caused by the contract employee while on assignment (care, custody, and control). See actual policy for complete information.