Commercial Insurance
D & O Insurance covers directors, officers and senior management of a business against liabilities arising out of the Companies Act and other legislative and regulatory matters.
The elements of risk are diverse, for example fraudulent trading, Health & Safety breaches and discrimination and with corporate governance being more regulated and monitored, maintaining and achieving compliance is more costly and time consuming than ever before. Penalties for failing on compliance are severe. This mixed with damage to brand and reputation can make a dangerous combination for many businesses.
Reviewing who needs to be covered is key as companies may face claims from a wide range of sources including employees, shadow directors, insured's representatives, spouses, regulatory bodies, customers, suppliers and creditors.
D&O liability issues include:
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