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Directors and Officers Insurance

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What is Directors and Officers Insurance?   ● Premiums From £107 ● 

Directors and Officers Insurance will provide essential protection against the financial costs of claims being made where you are deemed personally liable. If there is a time where the company is required to indemnify the Directors, this insurance will cover the losses made by the company.

Directors and Officers are legally required to act in good faith within the law and have a duty to act in the best interests of the company, and above your personal interests, and this includes a further responsibility to ensure that other directors do likewise.

If you do not, you face fines, imprisonment and compensation for damages that could involve the seizure of your personal assets, such as your home, car, properties, savings.

It is not just directors that face claims, as company officers and senior managers can also be held personally liable for their actions and many do not even realise that they could have to defend themselves from legal action. Directors and Officers Insurance will provide peace of mind in knowing that you will be able to defend yourself  if the situation should arise

Do I require Directors and Officers Insurance?

As a Director of a limited company, did you know that you have already accepted unlimited Personal liability? We often come across claims against directors made by Shareholders, Other directors, Employees, The public and even Regulators. Even if the claim being made is proven unsuccessful and unjustified, you may have to battle against it. This process can be very expensive and an arduous task for a director to go through.

We have a team of advisers ready to help and guide you to the product best suited for your needs, just fill in the Quote Indication Form or Request a Call

“We have dealt with DPI Insurance for in excess of 8 years for our commercial combined policy. They have a genuine understanding of our business activities and the technical expertise to provide competitive cover that accounts for the high risk trades we supply to where other brokers have failed. If you require a professional broker with specific knowledge of the Hardware and Industrial Fastener trade DPI Insurance would be a good starting point.”

David McMaster, Director of DP Fasteners Ltd

Claims Examples

• Two directors of a company which was in liquidation, with a total deficit of £216,000, were held jointly for £75,000 damages (plus interest and costs) arising from wrongful trading whilst the company was insolvent.

• A director who accepted an order at a trade fair but couldn’t recollect the details the following morning found himself being sued by his customer for breach of contract.

• Directors of a construction company were successfully sued for losses incurred by an architect who relied on a director’s repeated assurances that a contract performance bond had been arranged.

• A company is suing the directors of one of its competitors for allegedly breaching trade practices

• Directors were prosecuted after their failure to identify the company correctly on the company notepaper and invoices in breach of the Companies Act.

Types of claims made against Directors

  • Employment claims
  • Breach of duty or trust
  • Negligence
  • Defamation
  • Health and safety or manslaughter claim
  • Wrongful trading under section 214 of the Insolvency Act 1986
  • Pension or employee benefit scheme
  • Pollution