Directors & Officers Insurance
Directors & Officers Liability Insurance can protect personal assets and cover the cost of compensation claims made against your business’s directors and key managers (officers).This coverage safeguards you against any claims for alleged wrongful acts or decisions made on the behalf of your company, should a claim go to court.
What is covered by D&O insurance?
D&O insurance covers two main areas:
Legal liability- Cover for costs awarded to successful claimants
Legal costs - as well as any compensation costs from an unsuccessful defence.
Do I need D&O Insurance?
D&O is not legally required, but if directors and officers do not have insurance, they face a greater risk of not being able to defend themselves against:
Disqualification from holding the position of director
Civil proceedings which can lead to hefty legal costs and awards for damages
Criminal prosecution which can lead to fines and possible imprisonment
Who can make a claim against you?
Claims can be brought by anyone who has an interest in the company such as shareholders, investors, employees, regulators, or third parties.
Why choose Townsend McCormack for D&O Insurance?
Our expert team crafts tailored policies that meet your specific needs and complements existing insurance, for seamless protection, without paying for coverage you don't need. We advise on the coverage limitations and work with insurers to underwrite policies with favourable terms that fit your unique situation, so you can be confident in your protection.