Why Directors and Officers Insurance?
As a Director of a limited company you accept unlimited Personal liability. One often hears about claims brought against directors made by shareholders, other directors, employees, the public and regulators. Even if the claim being made is proven unsuccessful and unjustified you may have to battle against it. This process can be very expensive and an arduous task for a director to go through.
Being a director, partner or officer of a company brings with it certain responsibilities – to employees, members of the public, investors and regulators. It also exposes the individuals holding the positions of director, partner or officer to personal liability for the actions or omissions they make in the performance of their company duties. This means that they can personally be the subject of claims which could lead to the payment of fines, compensation or imprisonment.
What Is D&O Cover?
Directors’ and officers’ (D&O) insurance, or management liability insurance, is insurance cover that offers financial protection to those who are the director, partner or officer of a company. It is designed to cover the cost of claims for compensation made against the insured individual.
Directors’ and Officers’ Insurance from Modern Business Club provides essential protection against the financial costs of claims being made where you are deemed personally liable. If there is a time where the company is required to indemnify the directors, this insurance will cover the losses made by the company.
What does Directors And Officers insurance cover?
A typical D&O cover arranged by Modern Business Club for clients can include:
- Up to £10,000,000 Limit of Indemnity
- Corporate Legal Cover
- Employment Practices Liability (Optional Extra)
- Market Leading Insurers
- Pension Trustee and Employee Benefit Cover
- Crime Coverage
- Residential Management Specific Scheme
If you would like to discuss your cyber insurance requirements, please reach out to us on 0203 797 1287, click this Online Quote button or fill in this quick form below.