Directors and officers insurance, commonly abbreviated as D&O insurance, protects the directors and officers of a company against claims of financial injury. Not only is this type of insurance crucial so your business’ leadership can move the company forward without worrying about personal financial exposure, but it’s also often acquired by startups that raise venture capital as a condition of investment.
In the absence of a robust D&O insurance policy, your startup’s leadership and business may be financially vulnerable. D&O insurance can protect you from unforeseen problems down the road, such as dissatisfied investors second-guessing your latest business decision. A strong D&O insurance policy will help cover legal costs and give your startup’s leadership the peace of mind needed to make the decisions and take the calculated risks necessary for your business’ success.
In the event that an investor does sue your startup, you can trust the experts at Embroker, the leading digital commercial insurance brokerage, to walk you through the claims process. While settlement and defense costs can get expensive, a truly dependable D&O insurance policy will offer 100% defense costs allocation. It will also allow you to select the legal counsel you believe is best qualified to represent your startup—this is pivotal as in some instances the carrier will choose the law firm for you, whether you think they’re adequate or not.These are a few of the several reasons you need to work with a broker you can trust to purchase the best D&O insurance with optimal coverage for your startup.
While D&O insurance is vital, the process of applying for coverage has traditionally been daunting, both due to the amount of information needed to be filled out and the sensitive financial information that is required (e.g., cap tables and financials). From there, it frequently takes weeks to get a D&O insurance quote.
Fortunately, Embroker launched the first and only fully digital D&O insurance policy for startups.It’s entirely online and it takes a mere minute to fill out the application for a quote. Unlike traditional applications, Embroker doesn’t require you to disclose sensitive financial information.
So, if your startup is lacking this crucial insurance, you can get a quote nearly instantly though Embroker’s Startup Program.
The new digital D&O insurance policy is part of Embroker’s new digital Startup Program. Marketed as “smart insurance for startups,” the program promises market-leading coverage in less than a minute. In addition to D&O insurance, the Startup Program also offers fiduciary liability insurance and EPLI insurance, also known as employment practices liability insurance. Embroker crafted the program in partnership with Munich Re’s Digital Partners to ensure startups have the protection they need.
Embroker is committed to ‘unbreaking the brokerage’ by combining technology and insurance expertise. In addition to D&O insurance, they also offer all lines of business insurance that startups need, including cyber insurance, which helps mitigate the risks of the digital age. Headquartered in San Francisco and founded in 2015, Embroker serves over 1,800 customers and is licensed across all 50 states.
Get the insurance your startup and growing business needs at https://www.embroker.com/