Would you consider not insuring the Public Liability insurance of your business?
No, of course you wouldn’t
So why do so many companies still choose not to insure the most personal assets the business has… the Directors and Officers of the business!
If an action is brought personally against YOU the Director or Officer of the company, YOU have to respond personally, putting all your personal assets (house, car, savings investments etc) at Risk.
Considering whether to insure Directors & Officers Liability Insurance shouldn’t be a consideration, this type of protection should be part of every insurance program.
Insurance that protects you, your fellow directors and officers as well as your business
At Real we deal with some of the UK’s leading Directors and Officers Liability Insurers, all offering specific protections for your business
We deal with a number of Directors and Officers Liability Insurers?
We know that one size doesn’t fit all, your business is different to the next and so we choose the best insurer for your business!
Not all insurers Directors and Officers Liability insurance, suit every type of business
Directors and Officers Liability insurance can be really cheap
We believe that this cover should NEVER be in isolation
Directors and Officers Liability insurance in isolation is fine, however this covers exactly what it says on the tin, this means that whilst the Directors and Officers of the company may be protected the Entity may not.
There is an additional cover that should be attached covering the Limited company itself (the Entity)
Being a Director you have a few duties and just to get you thinking, here are a few to start with.
- Statutory – statutes that impose duties
- Companies Act
- Insolvency Act
- Financial Services Act
- Data Protection Act
- Health & Safety at Work Act
- Environmental Protection Act
- Disability Discrimination Act
- Human Rights Act
- Working Time Regulations
- Employment Relation Act
- Part Time Workers Regulations
- Employment Equality (Sexual Orientation) Regulations
- Employment Equality (Religion or Belief ) Regulations
- Employment Equality (Age) Regulations
Not only can you potentially breach these and many others, you also have to contend with the direction in which they come… even fellow Directors.
- Fellow Directors
- Pressure Groups
- Financial Institutions
- Dept.Trade & Industry
- Custom & Excise
Directors & Officers Liability insurance – an essential part of your insurance program
Get the protection right for your business, if its cheap premium it could be cheap cover, make sure you get it right by calling us on 01623 889 530 NOW