Directors’ and Officers’ Insurance

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Directors’ and Officers’ Insurance

The threat of personal litigation against the directors and officers of companies of all sizes continues to increase. Legally the directors of a company and the company itself are separate entities so both may be defendants separately or jointly in any legal action or prosecution.

Directors and Officers of all companies are now held at an unprecedented level to be personally responsible for any actions or decisions they make on behalf of their company, putting their personal assets at risk if those decisions are tested in the courts.

Risks to Directors and Officers

  • Financially - they are personally liable for their actions. Potential litigants can include employees, creditors, customers, competitors and regulators.
  • Criminally - their liberty is at stake, and again, financially the costs of defence can be high, sometimes reaching six figure sums
  • Investigations - by regulators or trade bodies. An area of high financial risk by directors and one of the biggest triggers for claims in the UK.
  • Own employees - following allegations of sexual, racial or disability discrimination, directors could easily find themselves defending their actions, or inactions, at employment tribunals.
  • Past and future actions - responsibility and liability for their actions remain with directors long after they have left the company, even into retirement.

Policy Wordings

These are designed to provide protection from the financial consequences of actions against directors and officers past, present and future. Features may include:

  • Wrongful acts, breaches of duty or trust, neglect, error, misleading statements, omission, negligent act or any other act wrongfully committed.
  • Advancement of defence costs.
  • Damages awarded against director
  • Company reimbursement
  • Investigation legal fees and expenses
  • Managerial/Supervisory staff included as insured persons

Our Services Include

  • Assistance in respect of all insurance claims
  • Advice and assistance in completion of proposal and ancillary forms
  • The prompt provision of cover notes, policies and all necessary insurance documentation
  • A prompt and efficient response to all communications
  • A comprehensive, personal yet thoroughly professional service

Link to Our Services