Often there is very little directors and officers are able to do in order to diminish the complexity of the business, legal and regulatory environment in which they operate. That said, it is possible to implement strategies to help protect their personal assets and limit their liability.

Directors and Officers’ insurance (D&O) covers all directors, officers and senior employees for the personal liability they incur as a result of allegations made against them in the course of their fiduciary duties.

O’Connor & Company can also arrange cover for the obligations of the company as a result of a wrongful management act.

Employment Practices Liability insurance (EPL) will cover companies for losses incurred due to allegations of employment practice violations.

So Who’s it for?

Public, private and not for profit corporations and the management of professional firms.
Covers Defence costs and damages for both wrongful management acts and wrongful employment acts
Broad definition of employees - include subsidiaries and temporary employees in supervisory or management position.
Our specialist D&O insurance policy provides cover for losses resulting from wrongful acts including:

What’s typically covered?

Damages, judgments, settlements, crisis costs, PR costs, prosecution and defense costs
Errors and omissions
Legal representation expenses
Costs arising out of extradition proceedings
Tax contributions where the company has become insolvent and personal liability ensues
Actions between directors of the same company
Employment-related wrongful acts
Whistle blowing
Pollution

Wrongful acts are typically described as actual or alleged breaches of trust or duty, neglect, error, omission, misstatement, misleading statement, breach of warranty of authority or other acts wrongfully committed or attempted

As a company director or senior executive you may incur certain personal liabilities through negligence, default, breach of duty or breach of trust in relation to the company which may leave you open to litigation and exposed to compensation claims, lawsuits, investigations and prosecutions.

Did you know you can even be held personally accountable for the actions, errors and omissions of others?

To discuss your requirements further please speak to one of the team on 01604 630003.