D&O run off cover

Directors liabilities are unlimited and continue after a company is sold or closed so Directors & Officers run off cover is essential for peace of mind.

Directors & Officers run-off liability cover should extend at least 6 years. However some directors and officers liabilities can extend even beyond this period so lifetime D&O run off liability might be preferable. D&O liabilities outlive a company sale, company takeover or company acquisition and  ongoing Directors & Officers run off liability is an essential sleep easy cover.

It may not be enough to purchase run-off cover on your existing insurance. This is because many Directors & Officers policies require claims to be presented by the policyholder which is the company. If the company has been sold or ceased trading then it is often no longer practical for the company to present the claim leaving the director or officer in limbo.

There are specialist Directors & Officers run-off liability policies that can provide for a fixed period or lifetime run-off cover. These policies can also follow the same cover as provided by a previous insurer by using a 'differences in condition' wording which makes the new policy match cover with the previous policy.

Most importantly these specialist policies allow for a director or officer to make a claim directly against the policy rather than the difficulty of claiming via the previous company.

RMK can help you to arrange this important protection. Please contact us today by e-mail or telephone Michael Richards, FCII on 01702 426350.

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