Directors & Officers Liability Insurance (D&O) is designed to indemnify directors and officers from claims against them personally for failing in their duties.
Management and Officials of Community Interest Companies would be sensible to consider this insurance as it can protect claims against them as individuals. Under the 2006 Companies Act, directors and officers are exposed to over 200 areas of statutory liability.
Claims could be made by employees, shareholders, customers or government bodies such as the Inland Revenue or Health & Safety Executive.
Voluntary organisations, clubs and societies should consider protecting their committee members with trustees and committee members liability insurance, which offers similar protection.
Until recently D&O insurance was quite expensive so only the largest organisations could afford it, fortunately costs have reduced in recent years and quality annual cover can now be obtained from under £100.
If you would like advice or a quote please contact us
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