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.
Why do you need Individual Director Insurance?. An Individual Director faces unlimited liability and if your employer has not arranged Director’s & Officer’s insurance or you believe the cover to be inadequate you can arrange Individual Director insurance. The Policy will sit above any underlying Director’s or Officer’s or Management Liability policy already arranged and is triggered when the underlying Director’s or Officer’s or Management Liability policy cover is exhausted or there is no cover in place. The Individual Director Insurance product can cover up to 5 Directorships and is suitable for director’s current board positions of UK registered Private Limited Companies and Not for Profit Organisations
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?
Examples of actual claims against Director’s and Officer’s
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.