Company directors and officers are under immense pressure to meet the expectations of all business stakeholders including employees, clients and shareholders. Despite having the best intentions, mistakes do happen and as the company director you may be left to face allegations of wrongful acts for which you are personally liable for.
At Coverforce, we understand the pressure that you are under. That's why our specialist insurance brokers and in-house claims team are here to deliver unrivalled service, expert risk advice and tailored insurance solutions to cover you, not just your business.
What is Directors and Officers Insurance?
Directors and Officers Liability Insurance protects Directors and Officers against legal liability you may sustain personally whilst you are managing a corporation.
Do I need Directors & Officers Insurance?
If you are a Director or Officer of a corporation or business, you should take out Directors and Officers Insurance.
In your position, you may be exposed to claims brought against you by:
- Employees (including claims for wrongful dismissal, harassment or wrongful failure to employ or promote)
- Statutory bodies (including alleged breaches of a Director’s responsibilities or investigations commenced by WorkCover following a work incident)
- Competitors (including allegations of conduct involving anti-competitive behaviour)
- The Corporation itself (including actions by a liquidator on behalf of the company alleging insolvent trading)
What does this Insurance cover?
- Representation costs where a Director or Officer are legally required to attend an investigation regarding the affairs of the corporation
- Legal costs and expenses in the defence and investigation of a Directors and Officers claim
- Any compensation required to be paid by the Insured to dispose of a Directors and Officers claim
- This could be anything from a car, bus or train accident, and assault from another person or injury caused from falling or being hit by falling objects