Directors and Officers Insurance
Cover legal costs and damages arising from claims about management decisions
Directors and Officers may be held personally liable to all parties that have any interest in the affairs of the Company.
Directors and Officers to be able to protect and insure against any liability for negligence, default, breach of duty, and breach of trust, this can include insurance for criminal proceedings, that may be brought against a Director or Officer of your company.
In essence, a Directors and Officers Insurance is a form of Professional Indemnity cover for Company Directors and Officers.
A claim may be brought against a Director of Officer under any of the following peices of legislation:
- Companies Act (over 200 offences)
- Company Directors Disqualification Act
- Financial Services Act
- Company Securities (Insider Dealing) Act
- Consumer Protection Legislation
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- Health & Safety at Work Act
- Insolvency Act (“Wrongful Trading”)
- Data Protection Act
- E C Directives and Regulations
- Racial and Sex Discrimination Legislation
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Taking into account the duties and exposures highlighted, a Director has to be mindful of all of these when considering the following circumstances which quite often give rise to claims or legal proceedings:
- Sale of Assets/Divestments
- Acquisitions/Investments
- Poor Performance
- Share Issues/Change of Share Ownership
- Expansion Plans or Rationalisation
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- Liquidation
- Failure to Supervise
- Adverse Publicity
- Dishonesty of Fellow Directors
- Safety and Emergency Regulations
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Important Information:
The online quote and buy facility on this website is provided by Professional Insurance Agents Ltd.