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.