Directors Officers Liability
Directors & Officers Liability
In today’s corporate climate directors face greater personal liability than ever before.
Undoubtedly the Cadbury report widened the extent of liability faced by directors today. It spelt out in great detail the duties and consequences faced by senior people performing their normal duties.
The nature and extent of corporate legislation that must be adhered to is extensive, particularly under the Companies Act and the Insolvency Act.
A director’s personal liability is unlimited and extends to their estate on death so their own personal assets are seriously at risk.
Non executive directors have particular issues, sharing responsibility with executive directors, but being less informed. We can arrange personal insurance limits within the overall policy.
Employment Practices Liability
The continuing flow of new legislation has increased both the number and size of EPL claims. Of particular note are claims in respect of discrimination and harassment in the workplace which regularly make newspaper headlines. The cost of defending this type of claim can prove to be expensive and financially damaging to both companies and its directors and officers.
We have extensive experience in arranging this type of insurance protection.