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DIRECTORS AND OFFICERS LIABILITY INSURANCE
In this ever increasingly litigious world every Director, Senior Executive and Manager is a potential target for a claim. A number of different individuals or entities including Shareholders, Banks, Creditors, Current & Previous Employees, Regulators and Liquidators could all take action against you.
Does the Companies limited liability protect you?? NO. Directors of any Public or Private Limited Company could face unlimited personal liability following an allegation of a wrongful act in execution of their duties. As a result your own personal assets, such as your own home could be at risk.
A Directors and Officers Insurance policy will provide cover for defence costs for all board members and all company directors, officers and employees in the event of Corporate Malpractice alligations. Cover will also include the Companies costs and expenses.
Here are a few areas where claims could be made against you:-
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Companies Act 2006
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Corporate Manslaughter
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Former Directors & Non Executives
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Mergers & Acquisitions
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Health & Safety at work
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Race, sexual and age discrimination
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Insolvency Act
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Disability Discrimination Act
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Wrongful termination of employment
To name but a few.
Most D & O policies are now made up of 3 sections, thus offering wider cover than the standard Directors and Officers liability insurance policies. These sections are Directors and Officers, Employment Practice Liability and Corporate legal liability.
To view a list of Directors and Officers Insurance claims examples click on the links below:
In addition to the Hiscox policy which you can download here on our website, at Headley Insurance we do have a wide range of other Directors and Officers policies available to us. Why not contact us today and discuss your requirements with us. We would always recommend that you contact a professional directly to talk through the different options available rather than purchasing a standard Directors and Officers liability insurance policy online.
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