D&O insurance provides liability cover for company managers to protect them from claims arising from their everyday decisions and actions, either paid to the directors and officers of a company or to the organization itself. It reimburses the business for losses and legal defence costs if a legal action is brought against it.
What’s covered?
In a complex world where directors and officers have to make difficult and often complicated decisions, often with limited information, the company’s expenses are covered. It protects the business against:
- The cost of defending legal proceedings
- Compensation costs from an unsuccessful legal defence
- Disqualification from a directorship
- Civil proceedings and legal damages
- Claims made by regulators and investors
- Claims made by creditors
- Claims relating to breaches of legislation
- Insolvency claims
- Employee discrimination claims
- Defence costs from criminal and regulatory investigations into the company where no wrongful act has been stated against a director
- Employment practices liability insurance (available as an optional extension)