Directors & Officers
Directors & Officers (D&O) Insurance is a specialised policy designed to protect the personal assets of company directors and officers from claims made against them in their official capacity. As a director or officer, you can be held personally liable for decisions or actions taken while managing the company. This insurance provides financial protection against legal costs, settlements, and other expenses arising from claims related to alleged wrongful acts, including negligence, mismanagement, or breach of duty. Becks Insurance Brokers in Brighton offer tailored D&O Insurance solutions to ensure that your leadership team is protected against these potentially devastating claims.
Safeguarding Leadership Against Personal Liability
In today’s increasingly litigious business environment, directors and officers face a wide range of risks that could lead to personal liability. D&O Insurance is essential for businesses of all sizes, as it not only protects the individuals in leadership roles but also helps attract and retain top talent by offering them peace of mind. Whether you're running a small business, a charity, or a large corporation, D&O Insurance ensures that your directors and officers are financially protected against the risks inherent in their roles.
Features and Benefits
Personal Asset Protection: Shields the personal assets of directors and officers from being at risk in the event of a claim, ensuring they are not personally liable for legal costs or settlements.
Legal Defence Costs: Covers the legal expenses involved in defending against claims, even if the allegations are unfounded or the case is dismissed.
Claims from Shareholders: Protects against claims made by shareholders alleging mismanagement, breach of duty, or other wrongful acts.
Regulatory Investigations: Covers the costs of regulatory investigations or inquiries into the conduct of directors and officers, including fines and penalties where insurable by law.
Employment Practices Liability: Provides cover for claims related to employment practices, such as wrongful dismissal, discrimination, or harassment claims made against directors or officers.
Crisis Management: Includes cover for public relations support to help manage the impact on the company’s reputation following a claim against a director or officer.
Global Coverage: Protection for directors and officers who operate in multiple jurisdictions, ensuring they are covered for claims made anywhere in the world.
What is Typically Covered?
Directors & Officers Insurance typically provides coverage for a wide range of claims that could be made against the leadership team of a company. Typical cover might include:
Mismanagement: Protection against claims alleging poor decision-making or failure to properly manage the company.
Breach of Duty: Covers claims arising from an alleged breach of fiduciary duties, including the duty of care and loyalty to the company and its shareholders.
Negligence: Provides protection against claims that directors or officers were negligent in their responsibilities, leading to financial loss for the company or its stakeholders.
Regulatory Actions: Covers the costs associated with investigations or enforcement actions by regulatory bodies.
Shareholder Actions: Protection against claims made by shareholders alleging that directors or officers acted improperly or in a way that harmed their interests.
Employment-Related Claims: Includes cover for claims related to employment practices, such as wrongful termination or discrimination.
Exclusions might include fraudulent or criminal acts, intentional non-compliance with laws, or claims resulting from personal profit or gain. The specific terms and conditions will vary depending on your business’s needs and the insurer. Becks Insurance Brokers will work with you to tailor your D&O Insurance policy, ensuring comprehensive protection for your leadership team.
To protect your directors and officers from personal liability and ensure their peace of mind, book an appointment with one of our specialists here or arrange a quotation here.
