CorporateGuard Directors and Officers Liability
Insurance
Reports
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Recent US Securities Class Actions reports
Read about the Companies Act 2006 on Directors' Duties
Governance: The year ahead
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Each year we invite speakers to examine some of the threats lurking just over the horizon. Learn what D&O clients should be anticipating, for a broader perspective of board level risks of the near future.
Watch 2011 event highlights now >
CorporateGuard Directors and Officers Liability Insurance
Protection for claims brought against directors, officers and senior employees for actual or alleged breach of duty, neglect, misstatements, errors or omissions. Includes separate limits for non-executive directors, crisis support package, and free legal advice.
Market
Mid to large sized companies. Includes past, present and future directors, officers, employees acting in management or supervisory capacity, shadow directors, outside entity directors, spouses, administrators and executors of insured's estates.
Features & Benefits
- Director Disqualification orders are from 2 to 15 years. Even after the ban the stigma remains: credit history and personal reputation may be permanently damaged. D&O is designed to pay for the legal defence costs as and when they are incurred
- Directors can be found personally liable when they haven’t been dishonest, deliberate or fraudulent by failing to take sufficient care - in which case awards and defence costs would be covered
- Directors could go to prison, for their actions, inaction or ignorance. The very best defence can be invaluable, but very costly. D&O Insurance cannot cover the criminal penalties - that is against public policy - but it can cover the costs of defending a claim up until the point guilt is established
- It’s very easy to complain about a company. The UK Department for BIS considers thousands of complaints against companies every year. The financial risks of investigations are considerable – we know because we pay the claims
Cover
- Non-rescindable policy
- Defence costs, damages and settlements for “wrongful acts”
- Employment practice liability cover (including emotional distress) for individuals
- Full limit of defence costs for pollution claims (for non-indemnifiable loss)
- Full limit for shareholder pollution claims
- Legal fees and expenses up to the full policy limit for attendance at any investigation into the affairs of the company
- Outside directorship cover, with extensive cover for claims against insured by an outside entity
- Full severability of proposal form
- Full insured v insured cover for non-collusive claims