Professional Insurance That Means Business
There’s nothing quite like having a shareholder, fellow director, supplier, or regulatory body director threatening to take legal action to break your stride in a managerial position.
But it can happen with one small mistake, or alleged error, even if you’re really conscientious as a manager or director. For such incidents, there is directors and officers insurance.
- Health & safety implementation
- Disputes with employees or colleagues
- Compliance with EU directives & regulations
- Criminal prosecutions
- Shareholder disputes
- Regulatory defence costs
- Data protection
- Disputes over mergers & acquisitions
- Disputes involving conflict of interests
- The Insolvency Act
Being a limited company is designed to protect shareholders but directors and officers still have unlimited liability. Cover is provided for alleged wrongful acts. Even if there’s not been any wrongful act, the legal expenses associated with proving this defence can still be costly.
What is directors and officers insurance?
Directors and officers insurance, or D&O, is designed to protect senior decision makers in their role, enabling them to protect themselves should they find themselves threatened by a claim against them. The leaders of a company often face claims of alleged wrongful acts from regulatory bodies such as the HSE (Health & Safety Executive), HMRC (HM Revenues & Customs), Environmental Agency and Information Commissioner regarding alleged breaches, such as data breaches or environmental breaches. They can also face claims from shareholder, employees, customers or members of the public.
Regardless of the nature of the claim, defending against such legal action can prove costly, even if the claims against you are false. This is because proving you did not do something wrong is not always straightforward and the legal fees and defence costs associated with this are expensive, something which can often prohibit directors from taking the necessary steps to defend themselves in court.
Is it worth it?
Directors and officers insurance is an increasingly popular product for companies of all sizes and is bought by almost all companies in the USA. This is not only an insight as to how valuable this cover can be, but also means that through sheer competitiveness in the insurance market, it’s a level of cover that comes with a reasonable premium, especially when you consider that any legal defence costs could quite easily run into the thousands for a single issue.
Not all the policies available will necessarily suit your requirements and so our experts at Shearwater can seek out the policy that’s going to work for you, whether you are an equestrian enterprise, small/medium enterprise or a large building contractor with a turnover that soars into the millions. We’re well equipped at Shearwater to provide you with independent advice on your directors and officers insurance either way.
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When the wheels fell off my lorry the Shearwater team were incredible. They called to check up on me, they arranged recovery and when the lorry was deemed a write off I was even given the option of keeping the scrap or not.
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Shearwater not only provided a much more comprehensive policy but at an incredibly competitive price. Everything was very simple.
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We've insured with Shearwater for a number of years and have always been very impressed with the customer service, claims handling, and competitive pricing. I've now moved all of our business and personal polices to Shearwater
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I have found Shearwater to be responsive and flexible in providing me and my company with individually tailored insurance packages to cover exactly what I need, at very competitive prices.
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We have worked with shearwater for many many years now! We use them for everything from our horses to our cars, our yard liability to the home insurance... They are a great company to deal with, both in terms of competitive rates and their customer services. I would highly recommend anyone looking at insurance to get in touch with them
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I have insured a few horses with shearwater over the years and have always been very impressed. The team on the phones are super helpful and they have always been great at paying out any claims. I wouldn’t hesitate to recommend their service to any of our Members
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What can we say about Shearwater? As an insurer if you want the best cover then you need to be with Shearwater. Their service is second to none and their staff are always friendly, knowledgeable and there to help you, nothing is too much trouble.
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It is a comfort to know that the horses are Insured with Shearwater. They are a professional but friendly company, competitive and knowledgeable. On the claim we had they were fast and efficient and nothing was too much trouble. Would happily recommend Shearwater Insurance, especially as they have such a vast range of options from everything equine to travel and household.
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Shearwater is our absolute go-to for all of our insurance needs from house, yard and horse, to cars and liabilities. The team in the office are easy to talk to and they actually take the time to get to know you as a client. Most importantly, when you need to claim for something, they are quick and listen to your needs, making the whole process much less stressful in your hour of need. We wouldn't use anyone else!