When faced with certain legal actions against themselves as individuals, Directors and Officers of a company are not protected by Professional Indemnity, Public or Employers Liability Insurance.
What is Directors and Officers Insurance?
Protect your personal assets
Directors and Officers Insurance is a vital part of a company's Insurance programme, usually arranged under a separate specialist policy.
First and foremost, it will cover your personal wealth for defence costs incurred during a claim and awards made against you. This could be following a civil or criminal offence.
Mismanagement - a director of a sporting goods group faced a claim from his former employer after allegations that he had acted in breach of his duties as a director in running the business.
Costs in successfully defending the director were more than £30,000.
What else does Directors and Officers Insurance cover?
There are several key Insurers in the Directors and Officers Insurance market, and each policy has a slightly different wording.
Typically, Directors and Officers Insurance can be broken down into the following three areas:
I used Evans Insurance for some personal cover and was impressed, I then used them for my company insurance. Not only did they give a better price, but their levels of customer service are second to none!
Dan provides a fast and professional service and has helped a number of our clients to find the right Directors and Officers insurance or Legal Defence cover at a competitive price. I highly recommend Dan for any of your insurance needs and look forward to continuing to partner with Evans Insurance moving forward.
Due to the nature of our business we needed some expert help to find the right Liability Insurance cover. Daniel provided excellent service.
Protect yourself with Directors and Officers Insurance today
As specialists in Business Insurance, we have a wealth of experience in Directors and Officers Liability Insurance.
In most cases you can get your quote and be on cover the same day of you contacting us.
We can also help you spread the cost of your cover over by Direct Debit, and in most cases, this can be over 12 months interest-free.