Both Directors and Officers Liability Insurance (also known as D&O) and Key Person insurance are very common requirements for early-stage funding. D&O protects against claims made against directors or officers of a company arising from any decision made or act carried out by them. Key Person insurance protects against the loss of profits that could result from the critical illness or death of a key individual (often a director or the brains behind the business), by paying out a cash sum so that the business can continue to operate.