Directors & Officers Liability Insurance provides directors, and other officers of companies, and other organisations with cover for a wide range of potential legal actions that they could face in the course of carrying out their duties.

The policy also protects a company against the costs and expenses arising as a result of such actions.

Do I need Directors and Officers liability insurance?

Are you a small or large business? Size is irrelevant if someone wants to take legal action against you.

If your company has directors or key managers this liability insurance can cover the cost of compensation claims made against you by shareholders, investors, employees, regulators or third parties.

Directors and officers have specific duties, responsibilities and powers relating to their positions. These are usually set out in their job description or terms of reference. If a director or officer of your company is found to have acted outside of their terms of reference, civil, criminal or regulatory proceedings can be brought against them.

Typical myths

• As a director I have limited liability – No you don’t.
• I don't have the title of director, so I can't be held liable – Yes you can.
• We are only a small company – This doesn’t matter the same laws still apply.
• I don’t work for the company anymore – You are still liable.
• They can’t touch my personal assets – Yes they can.
• Our public liability policy will cover this – Sadly no.

Types of claims that can be made

• Employment practices & HR issues
• Shareholder actions
• Reporting errors, inaccurate or inadequate disclosure (e.g. in company accounts)
• Misrepresentation in a prospectus
• Decisions exceeding the authority granted to a company officer
• Failure to comply with regulations or laws

Cover benefits

• Legal liability for insured persons arising from wrongful acts.
• Legal and criminal defence costs and expenses.
• Reimbursement cover for your firm.
• Liability cover for directors, managers and officers.
• Cover can include personal wealth of directors and officers for defence costs incurred or awards made.

Why use a broker?

You will have your own dedicated account manager, who will make it easy for you to switch from your existing insurer. We offer you flexible payment options, bespoke insurance solutions, specialist knowledge & impartial advice.

If a claim has to be made, we work with you, the insurer and the loss adjusters to get it settled as quickly and as satisfactorily as possible, removing the hassle and worry you may have. It’s why so many of our existing customers have been with us for over decade.

For a personal approach to insurance and a chat about your needs, call us on 01494 450 450 or email us at insure@jbennett.co.uk today.