How Much Directors and Officers Coverage Should a Worcester, MA Organization Get?
There’s no one set amount of directors and officers liability insurance that organizations should get. How much coverage a nonprofit or business ought to obtain for a leader depends on the leader’s risk exposure, how much a problem would cost in legal fees and settlements, and many other factors.
For help determining how much coverage they need, nonprofits and businesses ought to talk with both an attorney and an insurance agent. An attorney can help explain how much a potential accusation might cost in legal fees, fines, and settlements, and an insurance agent can explain how much coverage for these potential costs would be.
After talking with an attorney and agent, many Massachusetts organizations end up purchasing policies that have limits in the millions. This is because organizations learn just how expensive a potential claim can be, but they also find out how affordable coverage can be. In many cases, policies with high limits are available at comparably low rates.
How Can Organizations in Worcester, MA Get Quotes for Directors and Officers Insurance?
An independent insurance agent can help nonprofits and businesses in Worcester, MA request multiple quotes for directors and officers insurance policies. Since independent agents aren’t obligated to work with any one insurer, they can request quotes from many insurance companies that offer directors and officers policies in Massachusetts. They also help ensure that the policy a nonprofit or business ultimately selects meets the organization’s needs.