Directors & Officers Liability
This type of policy responds to allegations that you have breached your duty as a Director of the Company but would also protect all your managerial staff if claims are made against them.
We are recommending this product for the following reasons:
- D&O policies cover civil awards, judgements and legal defence costs incurred in defending you against actual or alleged incidents.
- Insurers are reporting an increase in these types of claims and some examples can be provided.
- Allegations can be made by many parties including Government agencies, creditors, customers, suppliers, employees. They may ultimately be unfounded but will still need to be dealt with.
- Some allegations may not trigger cover under your current policies and the personal assets of your Directors and managerial staff might need to be used in order to defend a claim. You will appreciate how quickly a legal bill could mount up in this situation and how stressful this would be for everyone involved.
- The policy may need to provide separate legal representation for individual directors and senior staff members and this needs to be considered when choosing a Limit of Indemnity.
