United Kingdom
Operating a business is fraught with difficult choices, and leaders are often at stake when making such decisions. Executive Protection Insurance (often referred to as Directors and Officers cover or D&O insurance) assists in protecting your directors, officers and top managers against personal financial loss in case they are found to have acted wrongly during their duty of care.
Whether it is claimed by employees or partners, investors, regulators or other parties, this cover does not leave your leadership team personally exposed.
No two businesses are alike. At Clarity Compare, we have the privilege to deal with verified insurers to assist you with a policy which is based on the size, structure and risk profile of your organisation.
By getting your cover through Clarity Compare, you not only have peace of mind but also have free access to our member savings portal, where you gain special discounts to help save on your day-to-day business expenses.
D&O cover or Executive Liability Insurance insures the executives of your company in case they are alleged to have acted wrongly in the discharge of their duties. It assists in paying the legal defence costs, like compensation claims, including:
In the absence of D&O cover, directors and officers can be held personally liable, which will expose their personal property. With the correct policy, your leadership team will be able to concentrate on making decisions without any hesitation since they know that they have strong protection.
Yes, even minor companies can be sued by the employees, clients or regulators. D&O insurance is not only applicable to big businesses, but it is also beneficial protection for all businesses.
No, professional indemnity insurance ensures a business against errors in the services it offers. D&O is a special insurance that protects directors and officers against personally filed claims.
The majority of policies still cover up former directors in terms of decisions made during their time in office, provided the claim concerns the time that they were in office.
No, D&O insurance will not cover willful illegal practices or fraud, but it may address the defence expenses up to the time the wrongdoing is proved.
The premium rates are based on such things as size, turnover rate, industry, and risk profile of the company. Clarity Compare allows competitive quotes to be prepared to suit your business.