Directors and Officers Liability Insurance protects past, present and future Directors and Officers/Key Managerial Personnel (KMP) of profit or non-profit companies from damages resulting from alleged or actual unintentional wrongful acts they may have committed in their managerial capacity.
Director's and Officer's Liability Insurance Policy provides protection of claims brought against directors, officers, employee in the event of any actual or alleged unintentional error, misstatement, omission, misleading statement, or breach of duty.
Who generally purchases directors and officer's liability insurance?
Any Public Limited Company; Non-Profit Organisation and Private Company should consider Director and Officers Liability Insurance.
Why buy Directors and Officer's Liability Insurance?
Claims from employees, clients and stakeholders may be made against any company and/or against the Directors and Officers/KMP of a Company. Since a Director or Officer can sometimes be held responsible for acts of the Company, most Directors and Officers will want to be covered rather than risk their personal assets.