Directors and Officers Liability Insurance

Directors and Officers liability insurance, also known as D & O insurance, is considered an essential requirement for directors or key managers (officers) in a business.

Directors and Officers liability insurance will cover the costs of compensation for claims made against directors and officers for wrongful acts. If you don’t have this insurance, directors and officers in your business could be disqualified from holding a position as director, could face civil proceedings, large legal costs, and even criminal prosecution and possible imprisonment.

A Typical Package

A typical Directors and Officers insurance package will include the following covers:

A typical package of directors and officer’s liability insurance will include health and safety or manslaughter claims, employment claims, defamation, negligence, breach of duty of trust, wrongful trading under section 214 of the insolvency act 1986, and the administration of pension schemes.

Frequently Asked Questions

We have tried to answer some of the most common questions we get asked below.

As a director in the business is it necessary that I take out this insurance cover?Yes. As any director or officer of the business, you are exposed to claims for compensation from shareholders, investors, employees, regulators or other third parties.

Can the company not provide protection in the event of an officer being sued personally, without this insurance?In most cases the company will not be able to provide protection, or it may not be in a financial position to do so.

Is this insurance cover expensive?Generally, in comparison to the relative company size this is a cheap cover to have, but none the less is very important.

Could I have short period of cover for a Directors and Officers liability insurance policy?There is little point as you are covered by the policy only at the time that a claim comes in, rather than at the time that a negligent act was undertaken. Therefore, you must ensure that the cover is continuous.

‘What people are saying’

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