Directors and Officers (D&O) Liability Insurance protects the directors and officers in your business against claims arising from their actions and decisions in their official capacities.
Why do you need it?
Specific duties and responsibilities are imposed on directors as to the conduct in which they run a business. The responsibilities are imposed under contract conditions, common law and statutory legislation and, in most circumstances, the individual director or officer will be held personally liable.
Who is covered?
D&O liability insurance covers the decisions made by people involved in managing and running an organisation. It is important to note that it covers the individuals, not the company. The people generally covered include past, present & future natural persons, being:
a director, secretary and executive officer,
a senior manager and committee member, and
an employee acting in a management or supervisory role.
