Directors & Officers Liability (D&O) coverage is designed to protect officers and directors of a corporation against damages from claims resulting from negligent or wrongful acts in the course of their duties. D&O also covers the corporation (and the officers and directors in some cases) for expenses incurred in defending lawsuits arising from alleged wrongful acts of officers or directors. Specialty Programs that underwrite Non Profit Corporations usually include broader coverage to include employees, volunteers and committee members.
Policies are written on a claims made basis and usually require a Deductible . Note that each insurance carrier writes its own specialized Directors & Officers policy, so please make sure to review it carefully.