Directors and Officers Liability Insurance

Directors and Officers liability insurance available online from £152

Directors and Officers face unlimited liability. You can protect yourself against this by taking out Directors & Officers Liability Insurance. A quote can be obtained online and the policy cover arranged immediately with comparable quotes form W R Berkley and Catlin (via our D&O partner PIA).

As a company director or officer you have a multitude of diverse responsibilities. The duties of directors and officers has been established through statutes, regulations and case law and can be broken down into various areas. The duty of care and skill, for example, is a common law duty requiring directors to act with "the care an ordinary man would take in the same circumstances on his own behalf", and with the skill expected from someone with his particular knowledge and experience. Directors also have a fiduciary duty to act honestly, in good faith and in the best interests of the company and must ensure that there are no conflicts of interest. There are also many statutes that affect the conduct of directors and officers, including the Companies Act 1985, Insolvency Act 1986, Financial Services Act 1986, Environmental Protection Act 1990, Health and Safety at Work Act 1974, to name a few.

If a Director or Officer is perceived to have failed in any of their duties, then a claim could come from any number of third party sources, including shareholders, creditors, regulatory bodies, the Health and Safety Executive, employees, auditors, liquidators, customers and suppliers. How would a director or officer find the legal costs necessary to defend themselves and to meet any awards made against them?

The cover is also tax effective as Directors & Officers liability insurance it is purchased by the Company and is a business expense.

If you needs are more complex or you need advice please contact us. If you need Directors and Officers run-off cover as your business has ceased trading we can also help.

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