Also known as D & O Insurance is now seen as an essential requirement for any Directors or key managers (officers) of a business.
The policy will cover the costs of compensation for claims made against Directors and Officers of a business for wrongful acts such as :
- Breach of trust
- Breach of professional duty
- Wrongful trading
- Misleading statements
Should we have this cover ?
If you have individual Directors and Officers of the Company their personal assets are exposed to claims being made for the reasons above. The levels of such claims over recent years has increased dramatically and so the answer is “Yes” you should.
Not having the cover exposes the personal assets of individual Directors and Officers and also increases the risk of not being able to defend themselves against :
- Disqualification from holding position as Director
- Civil proceedings and hence large legal costs and awards
- Criminal prosecution and possible imprisonment
So please contact ourselves for a quotation or should you wish to discuss any matter relating to this cover as our advisers will be happy to assist.
Alternatively please complete the enquiry form below and we will be in touch asap.