Human and Social Services Business Insurance
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Directors and officers insurance for human and social services organizations

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Directors and officers insurance

Directors and officers insurance protects board members and officers against legal expenses if they are sued for a decision they made on behalf of the company that led to a financial loss.

D&O protects your decision-makers

Your advisory board or board of directors oversees your company’s strategies, use of funds, and other major organizational activities. Without a safeguard, they could be held personally responsible for a lawsuit.

Directors and officers insurance (D&O) can cover the legal expenses related to their decisions, allowing them to perform their duties without fear of personal liability. Some individuals may require you to have this policy in place before they'll agree to join your organization.

This policy offers coverage related to:

  • Accusations of mismanaged funds
  • Failure to meet regulatory standards
  • Failure to perform official duties
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What coverage can D&O insurance provide for human and social services organizations?

Accusations of mismanaged funds

A single claim accusing a board member of misuse of funds can lead to a massive lawsuit. For example, a board member at your nursing home could be accused of improperly investing money. Even if the accusation is frivolous, the cost of a legal defense could considerably deplete your financial resources if you're not insured.

Failure to meet regulatory standards

If your daycare center or senior center fails to meet regulatory standards, your directors or officers could be held responsible. A social services organization's D&O insurance can help pay for the cost of hiring an attorney and other legal expenses due to noncompliance with industry standards or regulations.

Failure to perform official duties

When something goes wrong, the blame may be placed solely on the individuals that lead your company. This policy shields the individuals acting on behalf of your organization from claims leveled against them, including failure or perceived failure to fulfill the duties of their position.

D&O insurance helps your organization attract talent

As a type of management liability insurance, D&O coverage gives your directors and officers peace of mind that they're protected. This, in turn, helps to attract top talent that will help you to raise money and continue to grow.

Any organization with an advisory committee or board of directors can benefit from D&O insurance. Speak with a licensed Insureon agent who specializes in human and social services insurance policies to find out more.

Other policies for human and social services professionals to consider

Directors and officers insurance provides liability protection for the professionals who help run your organization, but it doesn’t provide coverage for all risks. Human and social services business owners should also consider:

General liability insurance: This policy can cover expenses related to customer injuries and property damage, along with claims of slander and libel.

Business owner's policy: A BOP bundles general liability insurance with commercial property insurance, often at a lower rate than if the policies were purchased separately.

Professional liability insurance: This policy is also called errors and omissions insurance or malpractice insurance. It can help cover legal expenses if an organization is sued for unsatisfactory work or negligence.

Workers’ compensation insurance: Almost every state requires workers' comp for human and social services organizations that have employees. This policy can cover medical costs and partial lost wages for work injuries.

Commercial auto insurance: State law requires commercial auto coverage for vehicles owned by human and social services organizations. This policy helps cover costs if a business-owned vehicle gets into an accident.

Get free quotes and buy a policy online with Insureon

Are you ready to safeguard your organization with directors and officers insurance? Complete Insureon’s easy online application today. Once you find the right policy, you can begin coverage in less than 24 hours.

Updated: April 29, 2022
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