Besides general liability insurance, you may need other forms of protection, such as:
Directors and Officers (D&O) Liability: Protects directors and officers of a company from personal financial losses and legal liabilities arising from actions or decisions made in their capacity as corporate leaders. Companies that use D&O questionnaires can proactively manage their risk and ensure adequate insurance coverage to protect their directors and officers.
Professional Liability: Protects service professionals against financial losses resulting from claims of negligence, errors, or omissions in the performance of their professional duties. Professionals in various fields, such as doctors, lawyers, architects, engineers, consultants, and accountants, typically acquire this type of insurance.
Cybersecurity Liability: In 2023, the average cost of IT-related security breaches will top $5 million per occurrence, and board members must employ appropriate cybersecurity risk mitigation techniques. Cybersecurity liability insurance protects businesses from the financial impact of cyber risks and provides support in managing and recovering from cyber-related incidents.