‘My Liability is
Limited’
NO! This is not the case for a director or
an officer who can be pursued personally for wrongful acts
committed in this capacity on behalf of the company.
No limitation applies in these
circumstances. Company directors are now held to be personally
liable for actions and decisions, putting their own assets at risk
if tested in court.
Directors and Officers' (D&O) insurance provides cover to
protect against these losses.
D&O liability insurance also protects the company itself,
rather than leaving it to fund its own defence - thus acting to
protect a director's personal holding in the company.
The insurer will:
- Reimburse any director or officer for
'wrongful acts'
- Reimburse the company, where it has
reimbursed a director / officer / employee for the
liability
'Wrongful act' has a wide definition and includes any actual
or alleged breach of duty, trust, neglect, error, mis-statement,
omission or breach of authority committed by a director, officer or
employee.
 Questions? Contact us
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