I have used RMK insurance brokers for a few years now and they give honest good advice and are there when you need them – when you need to make a claim. On top of that they are really friendly to deal with -what’s not to like !
Terry Maylin
Get a Quote Now?Please note terms obtained are non-advised and are based on information provided by yourself. This is very cost effective and these cost savings are passed on to you in the competitive terms produced.
Directors and Officers liability insurance available online from £134.
Directors and Officers face unlimited liability. You can protect yourself against this by taking out Directors and Officers Liability Insurance. A quote can be obtained online and the policy cover arranged immediately with comparable quotes from various insurers including W R Berkley and Catlin (via our Directors and Officers liability insurance partner PIA).
As a company director or officer you have a multitude of diverse responsibilities. The duties of directors and officers has been established through statutes, regulations and case law and can be broken down into various areas. The duty of care and skill, for example, is a common law duty requiring directors to act with “the care an ordinary man would take in the same circumstances on his own behalf”, and with the skill expected from someone with his particular knowledge and experience. Directors also have a fiduciary duty to act honestly, in good faith and in the best interests of the company and must ensure that there are no conflicts of interest. There are also many statutes and regulations that affect the conduct of directors and officers, including the Companies Act 2006, The Modern Slavery Act 2015, Criminal Finances Act 2017, Defamation Act 2013, Insolvency Act 1986, Financial Services Act 1986, Environmental Protection Act 1990, Health and Safety at Work Act 1974, General Data Protection Regulation to name a few.
If a Director or Officer is perceived to have failed in any of their duties, then a claim could come from any number of third party sources, including shareholders, creditors, regulatory bodies, the Health and Safety Executive, employees, auditors, liquidators, customers and suppliers. How would a director or officer fund the legal costs necessary to defend themselves and to meet any awards made against them?
The cover is also tax effective as Directors and Officers liability insurance it is purchased by the Company and is a business expense.
Examples of actual claims against Directors and Officers
Aside from Directors and Officers Liability insurance you can also add Entity cover to cover the wrongful acts of the company and Employment Practices Liability which can protect directors and officers against personal actions for wrongful dismissal and other employment related actions.
We can also assist with any other general insurance requirements you may have including key person insurance, professional indemnity, business, liabilities etc. Please contact us if you wish to discuss.
Get a Quote Now?Please note terms obtained are non-advised and are based on information provided by yourself. This is very cost effective and these cost savings are passed on to you in the competitive terms produced.