Directors & Officers Insurance

D&O Insurance

What is Director and Officer Liability Insurance?

The Price of Responsibility

Many experienced executives consider it an honor to serve as advisors to successful and growing companies. Likewise, progressive management teams find the insights and guidance brought by seasoned board members an invaluable aid in that growth.

Unfortunately, today’s business environment creates substantial risk for both directors and officers of companies, both public and private. Recent legislation raises the stakes substantially, including the potential of criminal prosecution. Any officer or director can be held personally liable in an increasing number of situations for breaches of a variety of laws and regulations. Without the proper directors and officers liability insurance, you may face the expense of hiring lawyers and face substantial claims against your personal assets and property.

Directors and officers liability insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.

Who Needs Directors and Officers Insurance?

  • Homeowner Associations
  • Condo Associations
  • Nonprofits
  • If you are looking to secure venture capital or funding from investors.
  • Any business with a corporate board or advisory committee should consider investing in D&O insurance, including nonprofit organizations.
  • If you want to attract and retain qualified directors, D&O coverage will protect those who might otherwise be reluctant to put their personal assets at risk.

Why D&O Insurance Is Essential for Nonprofits

D&O insurance is one of the most important policies for your organization. That’s because, according to the Wyatt Nonprofit Organizational Directors’ and Officers’ Liability Survey, nonprofits spend…

  • Between $35,000 and $100,000 on legal fees in a D&O lawsuit.
  • A whopping $457,000 in settlements or judgments for damages in a D&O suit.

What Does a Directors and Officers Policy Typically Cover?

Directors and officers are sued for a variety of reasons related to their company roles, including:

  • Breach of fiduciary duty resulting in financial losses or bankruptcy
  • Misrepresentation of company assets
  • Misuse of company funds
  • Fraud
  • Failure to comply with workplace laws
  • Theft of intellectual property and poaching of competitor’s customers
  • Lack of corporate governance
  • Defamation
  • Breach of contract
  • Unfair trade practices

Often called D&O insurance, directors and officers liability insurance is required for corporations in some states. D&O insurance is also required for most public companies. While there is a standard understanding of what D&O insurance is intended to cover, each company tailors its coverage to specific needs and requirements. Proper directors and officers liability insurance is seen as a necessity to attract and keep the best management talent, especially in industries with more than normal risks.

Illegal acts or illegal profits are generally not covered under D&O insurance.

Our Process


Work with an Expert Who Knows Your Industry

O’Kane & Tegay Insurance Brokers takes the guesswork out of choosing the right directors and officers liability policy for your HOA, nonprofit, or company. We connect you to an industry specialist, which means you’ll talk to someone who spends their whole day helping organizations like yours.

Need to update your policy? No problem. Reach out to your agent at any time and enjoy the quick response you need as a 21st-century business owner, paired with service so friendly and helpful it feels like a throwback.

Our team stays up to date on the latest insurance laws and coverage changes, so you can rest easy knowing you’ll get the right coverage for the work you do.


Get Quotes from the Country’s Top-Rated Insurance Companies

As an insurance broker, O’Kane & Tegay’s role is to give you access to policies from the best insurance companies in the country. Whether you need directors and officers liability insurance, general liability insurance, property insurance, business owner’s policy or workers’ compensation Insurance to comply with state laws, you can find it here.

We’ve already helped more than hundreds of organizations protect their community. Discover why they consistently rate us 4.9 out of 5 stars.


Select Your Quote

Have questions about the pros and cons of your quotes, our experts are here through every step of the process. Making sure you get the right coverage for the best price. We help keep your business safe.

Call 415-242-8777 Monday – Friday: 8 AM – 5:30 PM PST

Homeowner’s Association (HOA) Insurance

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Thanks O’Kane & Tegay! I’ve been a happy customer for a few years and have always appreciated the good rates. I’m also very impressed with their friendly, quick and efficient customer service. I highly recommend you call or visit these guys if you need a new insurance policy or want a better rate and/or better service.

Brian B.

A friend of mine refered me to these guys for an event I was planning here in San Diego. Yes they are in San Francisco and I am in San Diego. I can not begin to tell you how easy this was. I dont understand insurance and I dont want to understand insurance. They helped me feel at ease from start to finish. Fast easy affordable. I never thought that existed when dealing with insurance before now. Great job and thanks for the help!

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Grab-N-Go- Information

Top 3 Risks
  • Misused the organization’s funds
  • Mistreated an employee
  • Failed to perform official duties
Real Talk About Boards

Check out our blog for the latest news about managing risk for nonprofits and HOAs.

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Sample Certificate

See a sample Certificate of Liability Insurance, the proof of coverage you need for most contracts.

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Answers To Your Questions

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