Directors and officers hold positions of significant responsibility, often making critical decisions that can impact their organisation and stakeholders. However, with this authority comes the potential for personal liability if they are accused of a breach of duty, negligence, or wrongful acts.
Such allegations can lead to costly legal battles, financial losses, and reputational damage, affecting not only the individuals involved but also the organisation as a whole. Mitigating these risks is essential to ensuring confident leadership and organisational stability.
What is Directors & Officers Insurance?
Directors and Officers (D & O) Insurance is designed to protect individuals in leadership roles from the personal financial risks they face while managing a company. It provides coverage for legal and financial liabilities that may arise from claims of wrongful acts, breaches of duty, or negligence in their capacity as directors or officers.
A typical D & O Insurance policy can provide cover for:
- Representation costs if a director or officer is legally required to attend an investigation into the affairs of the corporation.
- Legal costs and expenses associated with defending and investigating claims made against directors or officers.
- Compensation payments required to resolve claims, ensuring the financial burden does not fall directly on the individuals involved.
How Coverforce can help
At Coverforce, our expert team of insurance brokers will take the time to assess your individual requirements and exposures and deliver a comprehensive insurance solution that is tailored to your specific needs and budget.
For more information or to speak to one of our brokers about arranging cover, please contact us.
Alternatively, you can simply fill out a Directors and Officers Insurance Quote form below and one of our insurance brokers will get in touch with you within one business day.
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