Educational institutions often face many unique exposures that are not found in other industries. This is especially true for board members, who may be held accountable if their determinations result in financial loss. As a result, retaining dependable insurance is a must for those tasked with providing essential educational resources to students.
What Is Directors and Officers Insurance?
A directors and officers policy protects high-level personnel from lawsuits related to negligent or wrongful service. This typically involves managerial decisions that are shown to cause financial loss to specific entity, which can then result in stringent legal action.
The total financial impact of litigation can be felt at every level. Directors and officers insurance helps mitigate ill-effects by providing funding for things like defense costs, as well as offering reimbursement for financial losses experienced due to ongoing proceedings.
How Can These Policies Benefit Educators?
It’s important for instructors to focus on how to best instill in students the knowledge necessary for prolonged success. Such focus can be shifted by pending lawsuits, which may hamper the decision-making process while also creating financial instability.
A directors and officers for educators policy allows instructors to concentrate on what’s most important without worrying about possible legal fallout. Such fallout can include many types of claims which may have far-reaching effects on an educational institution as a whole.
Insurance Suited to Your Needs
Comprehensive coverage allows every level of educator the ability to afford students the tools they need to achieve both personal and professional success. Directors and officers for educators insurance is just one such policy that all educational institutions must have in place to ensure they remain protected.