Directors And Officers Liability Insurance
What is Directors and Officers Liability Insurance?
Directors and Officers Liability Insurance (D&O) cover protects company directors, officers and senior managers against claims arising from their decisions and actions taken whilst managing their business.
Directors and Officers can find themselves personally liable if they have failed in any of their duties to any number of parties including:
- The company
- Shareholders
- Investors
- General public
- Employees
Do I really need Directors and Officers Liability Insurance?
Ask yourself these questions.
Do Directors have limited liability? No they do not!
I don't have a title of Director, so I can't be held liable? Yes you can!
The company will pay? Not necessarily!
We are only a small company so the rules don't apply to us? It doesn't matter what size you are the same law applies!
They can't touch my personal assets? Yes they can!
Still not convinced? Take a look at some of these D&O claims scenarios:
- Company being sued by an employee for sexual harassment
- Director being prosecuted for breach of health and safety due to a faulty item that resulted in injury
- Manager being sued by an employee for discrimination
- Company directors being pursued by the Environment Agency following pollutant spillage.
Directors and Officers Liability Insurance provides protection for all directors and officers of the company from the chairman to the junior officer.
It will provide the following cover:
- The legal liability of directors or officers of the company
- Legal costs and expenses in respect of any investigations and defence of legal action
- It will reimburse the company where the company is obligated to reimburse its directors and officers
If you would like more information on D&O please contact us on Nottingham (0115) 9420111