- The roles of company directors and officers have become more demanding because of the increasingly challenging responsibilities, regulatory requirements and pressures of litigation
- These officials carry personal responsibility and liability for their acts and omissions
- Liability Insurance can help protect directors and officers against the financial burden of litigation, damage to their reputation and loss of personal assets.
- Cover for legal costs and expenses is important as litigation involving company directors and officers is often difficult to deal with and costly.
- Liability Insurance provides company directors and officers with the confidence to deal with the challenges of business.
This policy protects company directors and officers against liability for their wrongful act or omission committed in their capacity as company directors or officers, including but not limited to:
- Wrongful misrepresentation
- Breach of trust
- Breach of fiduciary duty
- Breach of warranty of authority
- Unlawful default including: out-of-court settlements; defence costs and expenses, and compensatory damages awarded against the company directors and officer; costs of appointing legal expertise