Directors and Officers Insurance in Texas

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Directors and Officers Insurance in Texas

Also providing insurance to residents in Colorado, Kansas, New Mexico, and Oklahoma

What is directors and officers insurance?

Leaders of businesses and nonprofit organizations in Texas assume substantial responsibility, and with that responsibility comes some risk. If leaders make decisions that have negative effects on their organizations, they could face legal consequences in addition to professional ones. Directors and officers insurance might help protect against such risks.

Directors and officers insurance may offer a layer of protection against legal consequences stemming from a leader’s actions or decisions. It could help with attorney fees, court fees and other costs.

Who in Texas can benefit from having D&O insurance?

Most people holding leadership positions within Texas organizations can benefit from D&O insurance’s protections. Senior leadership of businesses and nonprofit organizations alike might want coverage. For example, coverage might be procured for:

  • CEO, COO, CFO and other C-level positions
  • Presidents, vice presidents and directors
  • Chairpersons and board members
  • Trustees and treasurers
  • Other high-level leadership positions

Anyone who’s unsure whether D&O makes sense for their situation should talk with an insurance agent who knows these policies well. An agent specializing in D&O insurance will be able to make a recommendation as to whether coverage makes sense in a given situation.

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directors & officers insurance texas

What sorts of claims do D&O policies cover?

D&O policies typically cover claims related to managerial decisions and actions. A policy might cover decisions and actions that are alleged to be a:



Misleading statement

Violation of corporate laws or regulations

Decision resulting in bankruptcy

Misuse of organizational funds

Lack of corporate governance

While many potential decisions and actions may be covered, anything that’s determined to be intentional wrongdoing or obviously illegal is unlikely to fall within a policy’s protections.

Directors and Officers Insurance Texas

Do D&O policies cover violations of fiduciary responsibilities?

Yes, breaches of fiduciary duty can potentially be covered under a D&O policy. Whether a specific policy covers fiduciary violations depends on the specific terms and conditions of that policy. 

Fiduciaries can review any policy they’re considering with a knowledgeable insurance agent, to check whether fiduciary violations would be covered by the policy in question.

Does D&O cover legal defense costs?

D&O policies normally cover legal defense costs arising from covered claims. Policies will typically pay both attorney fees and court fees, starting with when a claim is filed. They often also assist with any settlement that ultimately must be paid.

How is the cost of a D&O policy determined?

The premiums for D&O policies are influenced by a variety of factors:

  • Role of the insured individual(s)
  • Size of the organization
  • Industry the organization is in
  • Financial health of the organization
  • Amount of coverage selected
  • Any history of prior lawsuits or claims

Leaders and organizations can get custom quotes from several insurance companies by working with an independent agent. Independent agents aren’t connected to any one insurer, and thus can show the most competitive policies regardless of what company is underwriting them.

Directors and Officers Insurance Texas

Who pays for a D&O policy when getting coverage?

The business or organization generally pays for the premiums charged on a D&O policy. This is because the covered individuals normally only need protection due to how they serve the organization. If they didn’t hold a leadership role within the organization, they probably wouldn’t need D&O insurance coverage.

Where can leaders and organizations find directors and officers insurance in Texas?

For help finding D&O insurance in Texas, get in touch with the independent insurance agents at Kirk Insurance Agency. Our agents can work with you to make sure you find the best directors and officers insurance policy available for you or your team.

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