Directors' & Officers' Insurance
Competitive Cover From Your Local Independent Insurance Brokers
Need competitive, high-quality directors’ and officers’ insurance? Let Trisure Insurance Services compare our markets to find you great value D &O cover. Our friendly team of specialists can do the shopping around for you and find you the right cover at the right price. Get your free, no-obligation directors’ and officers’ insurance quote today or call (01733) 777799.
What Is Directors' & Officers' Insurance?
Directors’ and officers’ insurance – D&O insurance – protects an orgnisation’s senior people from financial loss should they become involved in legal disputes arising from their orgnisation’s activities. It can extend to defence costs arising from criminal and regulatory investigations or trials.
D&O insurance used to be a protection that was primarily used by large corporations. However, as we have become a more compliance-heavy world with greater recourse to the courts to settle disputes, directors’ and officers’ insurance has become a cover many small and medium-sized businesses now take out.
With D&O cover through Trisure Insurance Services, you can get quality protection against events such as:
- Claims for either losses or unsatisfactory returns
- Negligence
- Failure to comply with regulations or laws
- Financial reporting errors
- Inaccurate or inadequate disclosure
Who Needs D & O Insurance?
D&O liability is a flexible policy that can cover senior members of any organisation – be it a business, a charity, a union, or a trade body. It can also protect a wide range of individuals, such as:
- Executive and non-executive officers, thanks to its unrestricted definition of what a director or officer is
- Non-board level managerial and supervisory employees
- Employees as co-defendants in an action brought against the organisation
- Retired directors (other than ones who retired because of disqualification from holding office)
- Non-executive directors who serve on an external entity’s board
- All employees, when it comes to employment-related wrongful acts
If you’d like some D&O insurance advice, please call us on (01733) 777799. Our team will be happy to give you the help you need to keep you and your organisation safe.
What Does Directors' and Offices' Liability Insurance Cover?
- Employment practises and human resource issues, such as being sued for constructive dismissal or unfair dismissal
- Failure to comply with regulations or laws
- Negligence or failure by directors or officers to carry out their job adequately
- Financial and or other company reporting errors
- Inaccurate or inadequate disclosure of an organisation’s performance
- Misrepresentation in a prospectus
- Claims arising from investors or shareholders who blame executives personally for either losses or unsatisfactory returns on their investment
- Legal action is brought in response to someone making decisions that exceed the authority granted to them as a company officer. In other words, someone taking an action that they were not allowed to take. Examples of such claims include:
- A customer makes a slander allegation against a company owner following an argument at a meeting. Having D&O protection in place, the company was able to avoid court action by making a compensation payment that was covered by the policy
- Investors in a home improvements manufacturer sued a company’s directors for losses incurred by them overstating the financial health of the business
- A worker is sacked for gross misconduct after assaulting a colleague at work and bringing the company into disrepute. The employee sued for unfair dismissal, saying he was provoked. The case failed, and the business was able to claim back the legal expenses it incurred defending it
- Breaches of fiduciary duties (the exercise of discretionary power in the interests of another person) owed to the company and shareholders
- Shareholder actions brought against directors and executive officers
- Corporate manslaughter
- Creditor claims
- Competitor claims
Directors' & Officers' Insurance FAQ
Directors’ and officers’ insurance is a complex area of cover, so to help you get the protection you need, here are our D&O liability insurance frequently asked questions.
We hope they will be of use, but if you’d like some personalised independent advice, please call us on (01733) 777799, and we’ll be happy to give you the benefit of our independent advice.
- The size of your organisation
- The type of work it does
- The range of cover you wish to have
- The value of individual clients – if you work with large organisations, claims are likely to be higher than if you work with small businesses
- Where your clients are based – if you have clients in the U.S. where, according to S&P, the number of claims is rising, and compensation pay-outs are on the increase – your D&O premium may be higher
- If you have any employees
- Your claims history
- Stockholders, investors, creditors, banks
- A supervisory board
- The company’s employees
- Regulators, state authorities, unions
- Customers, suppliers, and competitors
- Fraudulent, criminal, or intentional non-compliant acts
- When directors have acted for personal profit or obtained illegal remuneration
- Recovery of wages, fines, taxes, penalties, or multiplied damages
- Action brought against your business or organisation over the advice it has given – for that, you’ll need professional indemnity insurance
- Litigation brought against your business or organisation over its actions – for that, you’ll need public liability insurance
- Action brought against your business or organisation by employees owing to losses or injury connected to their work – for that, you’ll need employers’ liability insurance
Get A Directors' & Officers' Quote
If you’d like some D&O insurance advice or a free, no-obligation directors’ and officers’ insurance quote, call us on (01733) 777799 or click here to start your quote. Our team of specialists will search our markets to find you the right policy at the right price to keep your business protected.