Directors and Officers Insurance

Directors’ and Officers’ insurance is increasingly seen as a must-have. Increasing scrutiny of corporate behaviour and a claim friendly legal environment have accelerated claims for wrongful acts made against directors in recent years.

Given the SM&CR (Senior Managers and Certification Regime) which affects firms in the investments, insurance and consumer credit space, which came into play in December 2019, this cover is more important than ever.

This will vary, depending on the size of the business. In the past D&O insurance was seen as only a necessity for larger firms, however increasingly SMEs are seeing the benefit of covering their leaders with this type of policy.

In an increasingly litigious world, no director or senior manager is safe from the risk of facing legal action alleging wrongdoing.

Such actions may come from a wide range of third parties including clients, employees, investors, and shareholders.

Some extensions include additional limits for non-executives, crisis loss or emergency costs cover and representation for investigations. Additionally, where not included as standard, there is the option to include Employment Practices (EPL) & HR issues such as employee discrimination claims including unfair dismissal, harassment, or failure to promote a person.