Directors and Officers Liability
A company is controlled by its Directors and Officers who act as the mind and will of the company. Directors and Officers of a company have a potentially unlimited personal liability for their running of the company, including the potential for criminal responsibility.
A Directors and Officers Liability policy will provide cover in respect of legal costs, awards and settlements in respect of claims brought personally against Directors and/or Officers.
Claims Examples:
Charges of manslaughter and Health and Safety breaches brought against company directors following an on-site fatal accident.
Claims made against company directors following allegations of misrepresentation of a company’s financial standing.
Allegations of insolvent trading against company directors, with the potential for court awards, costs and/or disqualification as a company director.
Claims can emanate from a wide variety of sources, including Shareholders/Investors, Health & Safety Executive, Government Agencies, creditors etc.
