Directors and Officers Insurance
Directors and Officers Insurance is not just for large companies.
As a company director, it’s important to make sure you have the correct insurance in place to protect you against your personal liabilities, whatever the size of your business.
As a director of a company claims can be brought against you for actions such as alleged breach of duty, wrongful acts, financial mismanagement or misleading statements, so it is important to have the right protection in place should a claim be brought against you.
The cost of these claims can often run into thousands and can be brought against you by your employees, shareholders, and regulatory bodies such as the HSE or Trading Standards.
Directors’ and officers’ insurance, also known as D&O insurance or directors’ liability insurance, is designed to provide financial support for key people within your business if they face allegations of personal wrongdoing.
It works to protect directors, officers, partners and other company leaders in the event they stand accused of a wrongful act, such as:
- Breach of duty of care
- Breach of trust
- Negligent errors
- Defamation
- Health and safety failure
- Causing pollution
- Mismanagement of pension schemes
It’s there to help with the cost of defending company leaders from such allegations and to support with the losses you might experience as a result of such a claim. Directors’ and officers’ insurance can also help with the financial side of investigations, plus the costs you may incur in attempt to mitigate the need for investigations.
