This protects directors, officers, managerial and supervisory employees against claims arising from their actions and decisions made on behalf of their company. It also reimburses them for the often considerable legal costs that they incur in defending a claim.
Every director, senior company executive and manager is a potential target for litigation, whether from shareholders, bankers, creditors, employees, customers, regulators or liquidators. Directors and officers without insurance are effectively risking their personal wealth, since the financial implications of a legal action can be disastrous.
Directors face unlimited personal liability for wrongful acts committed, or alleged to have been committed, in executing their duties.
Your directors and officers business insurance gives you liability coverage:
The policy covers the legal liability of the directors and officers
for such matters as breach of trust, breach of duty, breach of contract,
neglect, omission, misstatement,
misleading statement, breach of warranty
of authority
and wrongful trading.
The cover here relates specifically to the breaches of duty
by directors
and officers in managing and directing a
company's affairs. It provides
personal cover to the
individual directors and officers. A Professional
Indemnity
policy covers claims arising from his normal professional
duties
and applies to the company as a whole. A third
party can hold an individual
director personally responsible
for his actions.
Whether you are seeking a free comparative no-obligation
quotation or an in depth assessment of a report on your
insurance needs,
complete the inquiry form, speak to one of
our business & commercial
insurance experts
1-877-742-0550 / 954-742-0550 or request a free call back today.
