Directors and Officers Insurance in Vermont

T.S. Peck Insurance
Directors and Officers Insurance Vermont

What is Directors and Officers Insurance?

Leaders of businesses and nonprofits have a great deal of power, and with that power comes responsibility. Because leaders have more influence than lower-level employees, they’re sometimes held to higher standards. Should leaders make a poor decision or take a wrong action, they may be personally held responsible for the consequences of the decision or action. Directors and officers insurance helps protect leaders of businesses and nonprofits in Vermont from the risks that they assume when they lead organizations.

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Client Testimonials

“I just wanted to take a moment to let you know how great I think Caroline Collins is. – Every time I call to update my policy(and I have updated it a lot over the years) Caroline has been nothing but amazing to deal with. She takes care of all my needs in real time which is amazing. She is very personable, always respectful, extremely knowledgeable, and just all around awesome to deal with. I truly enjoy dealing with her and think she is a huge asset to your business from where I sit.”

Jason C.

“Friendly and prompt – I have been with T.S Peck for many years and have no complaints with their trusted service. They have always taken a friendly approach to their craft and are always willing to answer all of my questions!”

John S.

“We Contacted T.S Peck Insurance to inquire about auto insurance/ After with with Jake, we explored combining our auto and home insurance, in turn realizing a big savings.”

Lary P.
“When I called for a quote, my agent was personable and helpful. He always got back to me quickly with answers, which is extremely important. The entire process was handled in a timely manner and was able to meet my expectations and beyond.”
Dayne D.
“Jake Hynes and the folks at T.S. Peck have been awesome to work with! As a recent start-up, we were new to the “buying business insurance” scene. One phone call and all our concerns were laid to rest. The service has been great and the prices are very competitive. We recently price shopped again and found we were still in the best hands!”
Scott L.
Directors and Officers Insurance Vermont

Directors and officers insurance is a form of professional liability insurance that’s specifically designed for people who lead businesses, nonprofits, and other organizations. Policies provide insurance against a variety of risks that are unique to leadership positions. For example, a typical policy might provide coverage for:

  • Poor investment decisions
  • Releases of confidential information
  • Problems related to hiring and firing decisions
  • Gross negligence
  • Conflicts of interest
  • Unlawful acts
  • Other errors that a leader may make

(Exact coverages vary from policy to policy).

Having a policy that includes coverage for gross negligence, conflicts of interest, and unlawful acts isn’t a license to be negligent, have conflicts of interest, or act illegally. A policy may provide financial assistance if a leader is found guilty of one of these things, but financial consequences are sometimes only one type of consequence that leaders may face.

Directors and Officers Insurance Vermont

Who Needs Directors and Officers Liability Insurance?

Almost anyone who leads a business, nonprofit, or similar organization should consider getting directors and officers liability insurance, regardless of where in Vermont their organization is or how large (or small) it is. A CEO of a large company in Burlington, VT might need this type of insurance, as may the board members of a small nonprofit in Saint Albans, VT.

The list of leaders who might benefit from the protections that a directors and officers policy provides include:

  • C-level executives of businesses (i.e. CEOs, CFOs, CIOs, CTOs, CCOs, and CSOs)
  • Presidents and vice presidents of companies
  • Presidents and board members of nonprofit organizations
  • Other high-ranking officers whose decisions have large impacts

In many cases, businesses and nonprofits will purchase policies for their leaders, since the risks these policies protect against come from work the leaders are doing for the business or organization.

How Can Organizations in Vermont Get Directors and Officers Liability Insurance?

The easiest way to shop for directors and officers insurance is through an independent insurance agent who is licensed in Vermont and familiar with this type of insurance. An agent will be able to review the roles of a business or nonprofit’s leaders and determine what coverages they need. An independent agent can then compare all of the directors and officers liability insurance policies that are available for the one that best meets the needs of the business or nonprofit’s leaders.

Get in touch with our team!

T.S. Peck Insurance

For questions or concerns, please contact our independent insurance agents.

Office: 41 IDX Drive, Suite 135
South Burlington, VT 05403

Office: 158 Lake St,
St Albans, VT 05478