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Directors and Officers

Covers directors against “wrongful acts” for which they may be sued. The policy provides for defence costs, settlements and damages, it will not cover dishonest acts, wilful acts or acts for personal gain.

Who is covered?  Anyone who has any control of the direction of a company or other body, anyone who can make a corporate decision including the Health and Safety Manager who may be at a fairly low pay grade.

Who can bring an action?  Shareholders including banks with loans secured by stocks and assets, government and regulatory bodies such as HM Revenue and Customs, Health and Safety Executive, Financial Services Authority, Environmental Agency, police and public prosecutors, employees (past and present), auditors, liquidators, customers, suppliers, competitors.

When arranging cover for our clients, due consideration is given to exposures to:

  • Insured v insured ie one director suing another director
  • Directors of other companies
  • Contingency cover for the insured director when acting under another directorship in the event that the other company D&O does not respond
  • Employment practice liability / corporate liability
    • Can be bought as an extension or a separate policy arranged
  • Pension trustee indemnity 
    • Normally arranged under a separate policy heading
  • Libel and slander
  • Retiring directors exposure
  • Acquisitions and mergers
  • USA securities

Castlemead Insurance Brokers have the knowledge, experience and market connections required to competitively place the required cover for your business.

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Choosing your Insurance

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