What is D&O cover?
D&O or Directors and Officers Liability to give its' full name provides personal protection for Directors, Officers and Senior Employees for the actions they take on behalf of the company.
Why do you need it?
The increasing burden of legislation and the ever litigious society that we live in can make the running of a company more and more difficult and Directors are increasingly exposed to a range of possible actions against themselves and their assets. If an action is bought against you as a Director then you have to respond to the action personally and this could mean that your personal assets including your house and your car are at risk. You can't rely on your company to support you as they may not be in a position financially to help.
Where's the risk?
Actions against a Director can come from many sources including employees, prospective employees, suppliers, customers, local authorities and following the full implementation of the Companies Act 2006 you are at risk from other directors and shareholders.
Sounds horrific, how much does it cost?
D&O does not have to cost the earth. There are a number of Insurance Companies and Schemes available which means, for now, the cost can be relatively low depending on the size of your company, what industry you are in and how many directors you have.
Please contact us at info@huberdixon.com for full details.
0845 430 5430
0845 430 5430
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