Directors, senior managers and executive officers can be held accountable for errors and omissions and alleged misconduct personally, meaning that they as individuals are liable in the course of any action that’s subsequently taken.
Claims can come from shareholders, creditors, members of the public, regulators and employees, leaving you in a potentially very vulnerable position in your key role unless you have the right insurance in place.
A directors and officers insurance policy can be taken out by the company, and can defend the head of the company in such scenarios where they need to defend themselves and cover any legal costs.
There are many directors and officers policies available as it becomes a more commonly used level of cover through necessity. Our advisers at ESL Insurance Services will look for not only the most appropriate cover available from our panel of insurers, but one that offers the best value in cover and premium.