We can insure you against potential risks such as mismanagement and liability claims made against your businesses key managers and directors.
We understand that every business is unique, that’s why we make sure to provide personalised insurance cover to suit your best interests.
With our extensive experience, our specialists can provide you with the recommendations you need, offering unrivalled cover at the best prices.
Directors and officers liability covers claims made by:
Employment practices liability insurance can be bought as an extension of directors and officers liability insurance. It covers employee discrimination claims, e.g. for unfair dismissal, harassment, or failure to promote a person.
Directors and officers insurance sometimes covers defence costs arising from criminal and regulatory investigations into your company where no actual wrongful act has been alleged against a director. Contact your insurer to find out what your policy covers.
Directors and officers liability insurance (also known as D&O insurance) covers you for claims made against your business directors and key managers/officers for alleged wrongful acts.
Wrongful acts include:
Directors and Officers insurance liability does not cover claims made against your organisation as a whole, only those made against individuals for alleged wrongful acts carried out in their capacity as directors or officers.
If your company has directors or key managers, directors’ and officers’ liability insurance can cover the cost of compensation claims made against them by shareholders, investors, employees, regulators or third parties.
Without D&O insurance, you face a greater risk of not being able to defend your business against:
If a director or officer is found to have acted outside of their terms of reference, civil, criminal or regulatory proceedings can be brought against them.
That’s why we make sure that our policies can cover the legal costs, as well as any compensation costs that arise from an unsuccessful defence.
For more information, talk to our team of Experts
The Benefits of Directors and Officers insurance
It's essential for companies looking for external funding:
It’s common for investors interested in a company to make D&O insurance a must-have requirement. This protects directors and officers from allegations of mismanagement and provides protection against legal action, fines, penalties, or disqualifications from being a director.
It provides protection from three angles:
D&O cover provides three-sided protection. One side covers directors personally for fines, penalties and legal expenses. The second reimburses the company for paying on behalf of the directors. The last covers the company should it itself be named in the lawsuit.
Professional indemnity cover isn’t enough on its own:
It's a common misconception that personal liability claims are covered under professional indemnity, but this is unlikely. A separate D&O policy is the only way to guarantee personal protection for those with management responsibility in your business.
The amount of insurance you’ll need depends on the nature of your business and your role, as both have an impact on the kinds of risks you’re likely to face.
Company size also matters. Holding responsibility for a multi-million-pound organisation could mean potential negligence claims come with higher values attached to them, for instance. Therefore, setting a higher limit of indemnity may be smart if this sounds like you.
We understand that your policy is personal to you, so we’ll work with you to tailor your directors’ and officers’ liability cover to suit your sector and firm.
