Directors & Officers Insurance
Directors and Officers bear ultimate responsibility for companies and any actions that their companies take. Should any errors be made, they themselves would be open to being sued and held responsible. Accounting for legal costs whilst protecting both the company’s and directors’ personal assets is therefore necessary.
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Directors & Officers Insurance works in a similar way to Professional Indemnity Insurance, but protects the individuals rather than the business for any actions or decisions made on behalf of the company. Legally, the Directors of a company are different entities to the company that they work for. This means that both the company and Directors require suitable cover.
What does Directors & Officers Liability Insurance cover?
Directors’ and Officers’ Insurance will cover you for:
- ‘Wrongful Acts’: Breaches of duty or trust, neglect, error, misstatement, misleading statements, omission, negligent act or any other act wrongfully committed
- Advancement of legal defence costs
- Damages awarded against the director or officer including exemplary damages for libel and slander
- Company reimbursement
- Investigation legal fees and expenses, covering the company and the individuals
- Blanket cover for any person deemed to be a director or officer – past, present and future
- Managerial/Supervisory staff included as insured persons
If you would like a quotation then please contact us today on 01924 871111 and a member of our specialist team will be happy to assist you.
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Commercial Insurance Broking Manager