Directors & Officers Liability Insurance
Running a company is undoubtedly a risky business and with litigation on the increase, directors, officers and senior managers cannot afford to leave themselves vulnerable and unprotected. Actions or decisions you make on the company's behalf can leave you exposed to compensation claims, investigations and prosecutions.
In such cases, you could be faced with significant legal expenses and other costs as you seek to defend yourself against allegations or if you have claims awarded against you.
Without any appropriate insurance cover, you would have to finance your defence from your own resources including the settlement of any successful claim, which could put at risk your home, car, savings and other assets and potentially lead to financial ruin.
Here at Alan & Thomas, we have worked closely with a number of the UK's leading insurers to develop a bespoke Directors & Officers (D&O) liability policy, which can cover legal defence costs, and where appropriate, any final settlement or compensation award.
Our Directors & Officers liability cover can protect directors and managers from a wide range of risk areas including:
- Employment law
- Criminal liability
- Director disqualification
- Errors & omissions
- Health & safety legislation
- Copyright & intellectual property
- Data protection
Examples of claims covered by a Directors & Officers Liability policy*:
- “When a business was investigated for polluting a stream, a manager in the organisation was required to give evidence at an enquiry. The D&O liability policy covered their legal representation costs.”
- “When two bakery employees were killed whilst attempting to repair machinery, the MD and several managers were prosecuted for breach of Health & Safety legislation. Their D&O liability policy covered legal costs of £890,000.”
- “When a carpet wholesale warehouse burnt down, the Managing Director was required to attend a hearing with the Chief Fire Officer to investigate the source of the fire. The D&O liability policy paid for legal costs of £40,000.”
- “When an employee was immediately sacked for racially abusing and punching a colleague, they brought an unfair dismissal claim against the employer. The employer’s legal costs were covered by a D&O liability policy.”
*The above claims examples are real claims obtained from AIG / Chartis Insurance via Brokerbility Ltd. They are for illustrative purposes only and are not a guarantee of cover, which is always determined on a case-by-case basis in accordance with policy terms and conditions.
Similar insurance cover:
EMPLOYEE BENEFITS INSURANCE
SMALL BUSINESS INSURANCE