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Key Benefits of D&O Insurance
The primary benefit of D&O insurance is the peace of mind it offers to corporate leaders, knowing they are protected from personal financial loss due to their professional decisions. Additionally, companies can benefit from:
- Legal Cost Coverage: D&O insurance covers the legal fees associated with defending against claims, which can be substantial. This ensures that the company and its leaders can focus on their operations rather than financial burdens.
- Settlement and Judgment Coverage: The policy often covers settlements and judgments, which can otherwise cripple a company's financial standing.
- Reputation Protection: By managing claims efficiently, D&O insurance helps protect the reputation of both the company and its executives.