Directors and Officers Liability Insurance Claims

Defending a liability claim can be hugely expensive even if the defence is successful. While payment from your company (if in existence) may be possible, can your company's balance sheet afford it? You can protect yourself with insurance - Directors and Officers Insurance provides cover for the legal costs involved in defending a liability claim made against you as a director or officer.

Claims against directors and officers are all too possible and you, as a Director, could find yourself faced with one. Here are some examples of possible issues you and your company could face.

• A driver fell asleep while driving for the family run haulage firm and two motorists were killed. The court held the operations manager responsible for not ensuring that drivers adhered to relevant driving regulations and also for not keeping his co-director informed of these regulations.
• A general manager sent pornographic emails to a colleague who was offended and took an action under the Sex Discrimination Act.

 

How do I get a Directors and Officers Liability Insurance?

The best thing is to get professional advice, talk to a qualified directors and officers insurance broker.

You’ll need to explain about your company’s activities, turnover and financial position. You also need to consider the limit of indemnity and excess and type of cover you need. An insurance broker can guide you through this and help you get the best directors and officers liability insurance to cover your needs.

 

To talk to an expert in your area and get a quote.