Directors and Officers Liability
Anyone who is a director or officer of a company, charity or any other institution run by a board or committee is at risk and should consider the advantages of buying a D&O policy.
The intention of any D&O policy is to protect personal liabilities of anyone who would be subject to a D&O action made against them. The most in need of cover are full or part time executive directors of the board. This can be the main board or the board of a subsidiary company.
Cover needs to include previous directors on a blanket basis to avoid the need to provide updated lists of historic names.
Employees who fulfil a function as a company officer or director also need cover. Such employees include company lawyers, company secretaries, treasurers, auditors and liquidators. Non employees can also be directors and officers of a company, for example a spouse.
In addition to a completed D&O proposal form, insurers will require a copy of the proposers’ latest audited report and accounts.
Due to the comparatively recent increase in demand for D&O policies, there are a huge number of insurers prepared to provide quotations. Quercus PI is in a position to advise and guide a prospective purchaser through the variety of coverage issues.Download Proposal Form:
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