Your business is covered. What about you?
It is highly advisable in today’s litigious and heavily regulated climate that all limited companies and limited liability partnerships purchase directors & officers (D&O) insurance, to ensure their directors and senior operational staff are fully protected.
D&O is intended to protect individuals from claims by shareholders, regulatory authorities and other interested third parties that the individuals have failed in their duties or responsibilities as directors or officers of the company.
In law, directors can be held personally liable for the decisions made on a company’s behalf. They can also be jointly and severally liable if they are deemed to have acted collectively, so the action (or inaction) of one director could financially impact all directors.
Employment practices liability is also typically provided as part of D&O insurance and covers employment related claims regarding:
- unfair dismissal
As such it protects directors from claims by employees in relation to employment issues.
Please get in touch for more information about directors & officers liability insurance.