What is D&O insurance?

Try this web site, it will answer a lot of your questions. It's difficult to give you a price though as every risk is different. I have written over 30 D&O policies for many different entities and no two have the same price. Call your Insurance Agent and see if he offers this coverage, if not he may be able to recommend another Agent that can. Failing that, call a local Independent Agent and get a quote.

http://www.aon.com/risk_management/d_and_o.jsp

Directors and Officers - among other things, it can provide coverage for employment related practices lawsuits.

This is not a standardized policy type; there will be a WIDE variety of coverage depending on the carrier and options you choose. Due to that wide variety, it's not possible to give you a "generic" overview. Sorry. You'll have to talk to someone who's providing you with a quote.

D&O insurance is Director's and Officers coverage which covers directors and officers of companies for business decisions made that may present liability problems for their company.

you might also me E&O...which is errors and ommissions insurance that protect insurance agents, real estate agents, among others with liability insurance.