How should I protect my company and employees from lawsuits?

PI Insurance (Professional Indemnity): Protects your company against lawsuits related to your professional design work. Rates start from $42/month.

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Directors and officers insurance: Protects your board directors and officers (C-Suite all the way down to managers) against lawsuits directly targeting them. Lawsuits personally filed against directors and officers will expose the directors' and officers' personal assets like their house, car, bank savings, etc. to legal claims. Rates start from $42/month.

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Both covers above will pay for lawyer's fees and damages/settlements, which can easily add up to several hundred thousand dollars/millions.