business insurance from shearwater insurance

Directors & Officers Insurance

Protection for the frontline in business.

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.

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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.

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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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Get in touch today

For professional insurance that means business.  Phone us today on 01992 718666 or request a quote online.