Why Directors & Officers Liability?
Directors & Officers Liability insurance provides cover to companies and their directors, officers and senior managers for claims arising from their decisions and actions taken whilst managing their business. Liability can be personal and a director’s house and savings may be at risk. Claims can be made by a whole raft of parties including shareholders, creditors, employees, government and regulatory bodies.
D&O policies can also extend to cover the cost of government department or regulator investigations and even the cost of fighting criminal investigations (up until the point that guilt is proven).
- Industry-specific policies to suit the needs of your clients’ professions
- We can write Primary or Excess of Loss
- Annual or monthly policies
- Our underwriters have a flexible approach when it comes to tailoring a policy to suit your clients’ specific needs.
- Directors were accused of trading whilst insolvent and also failure to maintain their accounts in a satisfactory manner to enable receivers to carry out their duties. As a result, many creditors were left unpaid. The directors faced disqualification proceedings and costs were incurred in defending the directors named in the proceedings, which amounted to tens of thousands of pounds
- Directors and senior managers of a haulage firm allowed a member of their staff to drive a company vehicle that was not roadworthy. An accident occurred killing a third party, resulting in a Health & Safety Executive prosecution for corporate manslaughter.