D&O Insurance Cost for Law Firms
Directors and Officers insurance protects the personal assets of law firm partners, managing directors, and officers against claims alleging mismanagement, breach of fiduciary duty, or other wrongful acts in their leadership capacity. This coverage is distinct from malpractice insurance, which covers professional legal services. D&O is especially relevant for firms structured as corporations or those with outside investors, lenders, or complex governance structures.
Typical Range:$2,500-$15,000/year
Key Pricing Factors
- Firm revenue and total assets under management or control
- Number of partners, directors, or officers covered under the policy
- Governance structure and whether the firm has outside board members or investors
- Claims history related to management decisions, partner disputes, or fiduciary allegations
- Financial condition of the firm, including any debt covenants or lender requirements for D&O coverage
Tips to Reduce Your Premium
- Bundle D&O with EPLI and fiduciary liability under a management liability package for premium savings
- Maintain clear partnership or operating agreements that define decision-making authority and dispute resolution
- Consider entity coverage to protect the firm itself, not just individual officers, for a modest additional premium
- Work with a broker experienced in professional services firms to access specialized D&O markets
Get an accurate quote for your firm
Every firm is different. Get a personalized coverage review and see what your program should actually cost.