Directors and Officers Insurance

//Directors and Officers Insurance
Directors and Officers Insurance2018-11-06T11:47:21+00:00

D&O Insurance by Ellis David - General Insurance Brokers

D & O Insurance

Directors and Officers Liability Insurance is there to protect the personal assets of the individuals, as well as defence costs should a claim against them go to court.

Director & Officer Insurance works in a similar way to Professional Indemnity Insurance, but protects the individuals rather than business for any actions or decisions made on behalf of the company.  Legally, the Directors of a company are different entities to the company that they work for. This means that both company and Directors need insuring for this.

If you have a specific D&O Insurance requirement, why not give our commercial team a call on 020 7354 3881 or send a message?

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D & O Insurance by Ellis David.

Call our Broking team now on 020 7354 3881 for a free quote or send a message. Completely without obligation.

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As a Director or Officer of a company, you should consider the following:

Increasing Action against Directors

Recently, the government and shareholders have become more willing to bring actions for breach of duty against directors and officers of companies

Since 1993, actions against directors by the Department of Trade and Industry have increased by over 400%!

Don’t leave your businesses key staff exposed. Ellis David can advise you of your likely D&O Insurance requirements and ensure adequate cover.

Your Legal Responsibility as a Director or Officer

When you take on a Directorship, you act as an agent for the company. You are legally responsible and accountable for your actions.

Directors and Officers personal assets are exposed to claims against them arising out of their business activities.

Protect your personal assets. Get the D&O cover you need with Ellis David.

Who can make a claim against you

Directors owe a duty to the company and its present and future shareholders. This is extended to creditors - potentially including HMRC - in the event of insolvency.

Claims can be brought by any party with an interest in the affairs of the company.

Speak to us today. We can advise on appropriate levels of D&O Insurance cover.

How much cover is enough

As a director or officer of a business your personal liability in respect of your decisions is unlimited in UK Law.

Therefore the cover of level you have should be considered carefully. There is no rule, but we recommend taking out as much as you can afford.

Ellis David can advise you on what the right cover should look like – and even help you risk manage your way to potentially lower premiums.

What is covered by D & O Insurance?

At Ellis David, we understand how important your business is to you, and how important having the right cover in place for your business and yourself is. We also recognise how different companies need differing levels and varying types of cover. We can create a bespoke policy to suit your needs, meaning that every policy is unique. However, a typical policy can be arranged to include cover for:

  • 2006 Companies Act (over 250 offences)
  • Insolvency Act (“Wrongful Trading”)
  • Health & Safety at Work Act
  • Data Protection Act
  • Consumer Protection Legislation
  • Company Directors Disqualification Act
  • Financial Services Act
  • Company Securities (Insider Dealing) Act
  • EC Directives
  • and Regulations Racial & Sexual Discrimination Legislation

To find out more about how Ellis David can help you get the right D&O Insurance cover in place, call a member of our team on020 7354 3881 or send a message.

How does Directors and Officers Liability Insurance work?

The basic level of cover provided operates in two parts:

  • Once a claim has been made, and legals fees or compensation are known, the insurer will indemnify (reimburse) any director, officer or employee for their liability for any wrongful act.
  • Secondly, the insurer will indemnify the company itself where it has reimbursed a director, officer or employee for such liability.

The policy must be taken out by a company on behalf of the individual.

Why Compare Directors and Officers Insurance with Ellis David?

With over 150 years of combined insurance broking experience, Ellis David can get you the right cover at the right price. We can tailor a policy to suit your needs so that you have all the correct cover in place but are not paying for cover that you don’t need.

To find out more about how Ellis David can help you get the right D&O Insurance cover in place, call a member of our team on020 7354 3881 or send a message.

Other Business Insurance Products By Ellis David

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D & O Insurance by Ellis David.

Call our Business Insurance team on 020 7354 3881 now for a free quote or send a message.
contact us