Directors & Officers Insurance
From SMEs to large corporations, over 2 million directors, partners and officers in the UK are taking on the extra responsibilities that come with running a business. It can be highly rewarding but in an increasingly litigious society, it also makes you personally answerable to any claims made against you by your employees, shareholders or regulatory bodies. If things go wrong, your personal assets could be vulnerable.
Our Directors & Officers cover includes:
- Employment practice – including settlements for sexual harassment or unfair dismissal
- Regulatory investigations – including investigation costs and fines
- Bankruptcy or insolvency – where there are claims against you personally for your actions
- Misconduct claims– not covered by Professional Indemnity Insurance
- Investor actions– including compensation claims for shares devalued as a result of alleged misconduct
What is Directors & Officers Insurance
The Directors & Officers Insurance we offer gives you affordable protection against claims or legal action taken against you personally by your clients, employees and business stakeholders. These can include employment practice claims, personal investigations by regulators (such as Health & Safety) or claims by shareholders where investments have been devalued by your actions.
Why consider Directors and Officers Insurance?
The insurance is aimed to protect against personal liability for financial loss suffered by third parties and will also pay for representation during criminal and regulatory investigations and prosecutions. They will not pay any fines. It also will have a conduct exclusion so will not cover against any dishonest acts.
Many directors rely on the fact the company will indemnify them, however this is not always possible because:-
- It has insufficient funds - many claims made against directors personally by investors and creditors occur only when the company is insolvent
- It may not be permitted by its articles of association to do so in certain situations
- It may be prevented from doing so by law
- Depending on the circumstances and if they are not required to, the company may choose not to use shareholders’ funds to indemnify the director, particularly if it is the company itself bringing the claim.
We get to know you and your business
Our knowledgeable team will get to know you, your business and the risks you personally face. We’ll then assess the level of cover you need from £1 million to £10 million and create cover that’s as unique as your situation and remove the legal and financial worries that a claim against you can create.
A personal claims service when you need it most
Should the unexpected happen, and you need to make a claim, our personal claims advisors will be on hand to help with any immediate assistance you need, get your claim settled quickly and smoothly and recover your losses. So you can keep your business running with the minimum of disruption.
For bespoke advice, award-winning underwriting and exceptional claims management, it has to be Higos.
Why Covid-19 Makes D&O Insurance Vital
In light of the Covid-19 pandemic, we understand more than ever how important it is for Directors & Officers to have the right protection in place. Our aim is to be able to help our clients as much as possible through these difficult times and help remove the legal and financial worries that a claim against you can create.