Directors and Officers Liability

Directors and officers liability insurance covers legal defence costs (criminal and civil) and any damages arising from a claim being made against a director or officer as part of their role.

The insured parties are:

• Both de jure directors/officers and company representatives, and de facto directors/officers, being any employee who may exercise a manager or supervisor role.

Those parties may have a claim made against them personally following a breach of legislative or regulatory provisions, a violation of the company’s statutes or a simple management failure. Management failures actually invoke the manager’s personal liability, regardless of the company’s legal form, for any intentional or unintentional actions that may contravene the company’s interests.

Cover for legal defence costs and damages now extend to encompass crisis management costs for handling claims, coaching managers and rebuilding your image using specialist service providers.

The amount of coverage is expressed per insurance year and is the insurer’s maximum pay-out sum. Director and officer liability insurance protects you against any losses resulting from legal action taken against you due to an erroneous action performed as part of your business, as well as defaulting on your obligations, negligence, erroneous declarations, errors and omissions, whether suspected or proven.