Commercial Directors & Officers Liability
"Unlike a company's liability, which could well be limited, the liability of directors and officers can be unlimited. Furthermore, directors defence may have to be funded personally. Uninsured directors and officers therefore face the possibility of personal bankruptcy"
Royal Sun Alliance Insurance
Directors and Officers Liability insurance is designed to protect directors and officers from claims arising against them in the course of the performance of their duties. Director's duties are defined by a mixture of case law and various statutes and legislation. It is no surprise that directors are sometime unaware of their duties. At law though, ignorance is no defence.
Typically, directors and officers are exposed to claims from:
• Shareholders
• Employees
• Regulatory authorities
• Customers
• Competitors
• Creditors
Protection can be provided under a Directors and Officers Liability insurance policy to cover the costs of defending these actions.
Key considerations
• Financial ability to defend legal
actions
• Compliance with current legislation
• Unlimited personal liability of
directors
• Company attitude to defending
actions
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Turner Insurance Services Ltd t/as Turner and Company, 34-36 Princess Road West, Leicester, LE1 6TQ
Tel: 0116 2999000 Fax: 0116 2999001 | Contact us
Registered in England - 4338485 | Authorised and Regulated by the Financial Services Authority | Legal notice | Website by Cite