Directors Liability Insurance
Director liability insurance: extra protection for directors and officers
Directors liability (or officers) insurance protects company directors, other senior executives or managers or officers of charities, boards or committees from certain personal liabilities which may be incurred as a result of their professional negligence, default, breach of duty or trust.
It pays their legal defence costs and, where appropriate, any final settlement or compensation award in actions brought by shareholders, employees, customers, suppliers or anyone else mounting a claim against the directors.
Management liability insurance protects against the cost of:
- claims for damages, judgements or settlements
- legal representation
- extradition proceedings
- tax contributions due after a company has become insolvent and liability ensues
- defending actions between directors of the same company
- defending employment-related wrongful acts
Why you should consider it
- Protects against the fallout from increasing company regulation and greater scrutiny of directors’ duties, actions and responsibilities
- Shores up gaps in cover left by limited liability status (not applicable to directors’ personal assets) or legal expenses cover (invalid where a successful defense is unlikely)
To discuss your management liability insurance options, or to obtain a quote, call us now on 0118 9165480 or email us.