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Liability insurance

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Directors and officers liability insurance

Directors and officers’ liability insurance (often called D&O insurance) is designed to protect directors, officers and employees involved in the management of a company, from personal loss resulting from legal claims made against them while they perform duties on behalf of the company.

A company’s board of directors and officers are personally at risk. They are accountable for all aspects of corporate governance, including business failings, oversights or omissions. Family trusts and the company’s limited liability status may not be enough to keep a director’s home and other personal assets safe.

 

What does directors and officers liability insurance cover?

Directors and officers insurance reimburses the costs resulting from law suits and judgments arising out of poor management decisions, employee dismissals, shareholder grievances and other acts committed in good faith.

Possible legal action can arise from:

  • employees - including wrongful dismissal, harassment, unfair work practices and unsafe work environments
  • third parties  - including shareholders, bond holders, creditors, liquidators, competitors or regulators

Help with directors and officers insurance 

We can advise you on the best business insurance solutions to protect you against the financial outfall of claims made against officers and company directors. However, every director’s situation is different and warrants expert advice. Your broker can provide this guidance for you and will work with you to develop an insurance package to cover your risks. In the event of a claim, we'll work as your advocate to help get a fair and prompt result. 

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