Directors and Officers Insurance, or D&O Insurance, is available for corporate executives as a personal protection in the case they are responsible for financial corporate mismanagement. D&O Insurance protects executives from the seizure of their personal assets. These insurance policies are complex and require the assistance of forensic consultants to navigate the policy.
When a dispute arises under a D&O policy, the experienced professionals at HSNO will immediately evaluate the claim, analyze the potential losses, and scrutinize the extent of impact and how it affected the company’s overall worth. HSNO has reviewed countless D&O cases and witnessed the added benefit of bringing in forensic accountants to provide expert investigative accounting skills. They review the director’s actions and determine if they were injurious to the overall wellbeing of the company.
A thorough examination by forensic accountants brings clarity to these complicated situations. HSNO helps determine whether the officers and directors listed on the policy should be named in a lawsuit. As mentioned, typically these D&O cases are the result of corporate financial mismanagement, but other factors can also play a part. Sometimes claims require a detailed review because employees, customers, creditors, banks, or even shareholders bring them forth.
HSNO’s team of professionals consistently provides superior client service. For D&O claims, our primary goal is to help insurers review and understand the D&O claim, which is often a very misunderstood claim. As a result, many insurers are unaware if D&O policy is built-in to a company’s general liability policy while others assume D&O Insurance will result in errors when determining who should be blamed for financial management failures.
HSNO’s forensics team is a valuable asset in this confusion. Our team is heavily involved while the paperwork is prepared to make sure all information is available and correct. If you are reviewing a D&O claim because you are contending that a director put the company in jeopardy by failing to act or avoiding their responsibilities, you need details immediately. HSNO is here to assist in all capacities relating to D&O cases.