Directors and Officers Insurance is a form of Personal Liability insurance that provides general cover to a firm’s directors, managers and senior executives. It protects the firm from lawsuits and judgements brought against it. These personnel have various duties and powers within their job descriptions and contract terms. As a result, they can be held responsible for a range of issues including:
- Poor management decisions
- Employee dismissals
- Maintaining satisfactory accounts
- Shareholder grievances
If any director or officer is found to have inadvertently acted outside their terms of reference which gives rise to a claim, then compensation and legal fees will be covered by directors’ and officers’ liability insurance. Criminal activities, however, are not included.
If you would like to discuss this further, please get in touch with a member of our team via our online contact us form. Or if you prefer, you can visit us in branch.