Directors and Officers cover
With new legislation being enacted all the time, management face tougher than ever restrictions and obligations, while their employees appear increasingly knowledgeable about their workplace rights.
Meanwhile, in a difficult economic climate, companies may expect increased exposure to liability and fraud.Yet, surprisingly, the majority of UK directors, company officers and partners may not have adequate management liability and crime insurance in place.
There are some pretty big risks involved with being a company director, partner or trustee these days.They’re subject to onerous duties and responsibilities – and if someone thinks they have not lived up to them – rightly or wrongly – then they can be in for serious legal action.
And that could be from many directions. Shareholders who suspect mismanagement. Investors who feel they’ve been misled.Trade association investigations. Industry regulatory bodies.
Perhaps the liquidator if the company is thought to have traded while insolvent. Not to mention their fellow directors.
With potential penalties that range from hefty fines, all the way to disqualification and possible imprisonment, the need for an immediate and effective response to any threat is clear.
Listed companies would not allow their decision-makers to be exposed in this way. PrivateEdge D&O covers settlements or damages, plus defence costs (which can be very costly) – backed up by the skill and defence expertise of one of the world’s leading and most experienced D&O providers.