Director’s and Officer’s Liability
Directors’ and Officers’ Liability is to protect the directors and officers of a company while performing their managerial duties.
Example of Claim
A CEO alleges his employment was terminated without cause and that the company hindered his attempts to find new employment by telling third parties that he is prohibited from using trade secrets and intellectual property that allegedly belongs to the company. Breach of contract, and unfair and deceptive trade practices have been found against the company and director. Defense cost and settlement for the defendant exceed USD 180,000
Source: Northbridge Financial Coporation