Startups face many challenges, including sourcing adequate funding, attracting new investors, navigating complex business regulatory requirements, managing day-to-day operations and maintaining a workforce.
Directors and officers coverage protects businesses, board members and officers from lawsuits that could arise from their decisions. Proper insurance also helps to attract talented executives as it offers a layer of protection for the personal assets of these important decision-makers.
Devon Park Specialty’s Management Liability product was designed to address these exposures, with important product features such as:
- Lifetime occurrence reporting provision for former directors and officers
- $1 million additional Side A coverage automatically provided to protect the personal assets of individual directors and officers in the event the company is unable to provide indemnification
- Regulatory and antitrust coverage
Devon Park is a market for startup businesses with the following preferred characteristics and submission materials:
- Manufacturing and technology companies
- Companies that have received initial startup capital
- Startups with a comprehensive business plan
- Financials, which could include actual or projected statements
- Capitalization table
Let us help you provide a competitive quote option to your clients and give them peace of mind by sending your submissions to [email protected].
Note: This product is unavailable in California, Louisiana, Mississippi, West Virginia and Alabama.
