- Directors & Officers Liability

This protects directors, officers, managerial and supervisory employees against claims arising from their actions and decisions made on behalf of their company. It also reimburses them for the often considerable legal costs that they incur in defending a claim.

Every director, senior company executive and manager is a potential target for litigation, whether from shareholders, bankers, creditors, employees, customers, regulators or liquidators. Directors and officers without insurance are effectively risking their personal wealth, since the financial implications of a legal action can be disastrous.

Directors face unlimited personal liability for wrongful acts committed, or alleged to have been committed, in executing their duties.

The policy covers the legal liability of the directors and officers for such matters as breach of trust, breach of duty, breach of contract, neglect, omission, misstatement, misleading statement, breach of warranty of authority and wrongful trading.

The cover here relates specifically to the breaches of duty by directors and officers in managing and directing a company's affairs. It provides personal cover to the individual directors and officers. A Professional Indemnity policy covers claims arising from his normal professional duties and applies to the company as a whole. A third party can hold an individual director personally responsible for his actions.

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