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