With a high-ranking, decision-making position within a company also comes a great deal of responsibility, as well as some degree of risk. This is why directors and officers need to be doubly certain that they are covered in the case of legal disputes and investigations over negligence, fraud or other wrongful behaviour, especially as the company’s liability insurance policy will not always cover them.
When Will I Need Directors And Officers Insurance?
Situations in which you need financial cover may include claims due to:
• Abuse of Position
• Health and Safety
What Will I Be Covered For?
Directors and officers insurance is designed to fill the gaps that your company’s insurance does not cover. This sort of policy can cover you for:
• Damage, Settlement or other Compensation Payments
• Loss of Documents
• Investigation Costs
• Pollution Defence
Remember that as a director, you can’t always rely on your company to indemnify you, especially when the company is insolvent or simply can’t afford the expense. Therefore, take no chances and cover yourself and your personal assets with directors and officers insurance. Find out more on our Directors and Officers page or give a member of our team a call.