OverviewDirectors and Officers are at risk of being sued for reasons relating to their roles, this is to cover costs incurred by the individual and the company.
Who needs Directors and Officers Insurance?
Any Director or Officer of a company, to protect them from the possible ramifications of their actions and decisions, taken during their duties as a director or officer of the company.
What does it cover?
Directors and Officers Insurance covers damages and court costs arising from alleged or committed wrongful acts.
It also provides cover for any director or officer for their legal liability for damages and costs awarded against them arising from any actual or alleged wrongful act committed or attempted by a director or officer during the performance of their duties as a director or officer of the company.
What else might you need?
- Office insurance
- Professional Indemnity
- Employer's Liability, for which you will need to provide your ERN or PAYE number (read more here)
Other things to consider
Sometimes you may be asked to sign a Personal Guarantee on a business loan. This can be a risky venture if your business is forced to close, but we can help you insure against personal loss from this.
All Directors and Officers cover is subject to the underwriting criteria, terms and conditions of the insurers. Please contact our team for further details and to discuss your requirements.