Directors & Officers Liability Insurance protects company directors, officers and senior managers against claims arising from their decisions and actions taken whilst managing their business....
The policy will pay for 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.
Directors and Officers 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
* Corporate Liability – For example a company was recently prosecuted for corporate manslaughter and this extension will provide an indemnity for the criminal defence costs and expenses in defending such an action. This extension is highly recommended in view of the Health & Safety legislation that companies are subjected to.