Directors and Officers Insurance
What Is Directors And Officers Insurance?
Being a company director or an executive company officer comes with a lot of responsibilities. With the right directors and officers insurance policy, you can ensure that you have financial protection. As a Director or an Executive Company Officer, you must have an insurance policy that protects you against liabilities such as breach of duty, breach of trust, default and negligence.
With the help of our insurance experts, you can find the right policy for you to help cover compensation costs, legal costs you incur during legal action, and any other costs that are specified within your policy. With The Insurance Octopus, a Feefo Platinum awarded insurance provider, you can secure a tailored insurance policy based on your needs.
For a stress-free process when it comes to finding the right directors and officers insurance, please complete our online form and request a call back. A member of our team will then be in touch to discuss potential policies. If you need to update your policy, please note that your insurer may charge an additional premium but we won’t charge you any administration fees for mid-term adjustments.
Insurance for directors and officers may include the following:
Breach Of Duty
Directors and officers indemnity insurance can include cover for Breach of Duty or Trust, Legal Team Expenses, Investigative Legal Fees, Errors or Omissions and so much more, including blanket cover for the position of Director (includes all past, present and future directors) and General Damages.
With liability insurance, you’ll be protected in a range of situations, such as wrongful dismissal claims.
If an employee is found to have committed a criminal offence in relation to their role and responsibilities, this cover will protect you and your business.
Costs relating to legal action set businesses in the UK back every single year. If someone takes legal action against you, this cover will ensure that your business and private finances are protected.
What is Directors and Officers Insurance?
Insurance designed to cover you for a range of different situations
As a company director or executive company officer, you are responsible for your business, your employees and some very demanding duties and responsibilities. A Directors and Officers Insurance Policy is important as a business owner to make sure you are financially protected.
The law now states that as a Director of business you are required to protect yourself against liabilities such as negligence, default, breach of duty, and breach of trust which can include insurance or criminal proceedings that could be brought against you. This will apply no matter if you are a member of a management association or a Director of a non-profit or charity organisation.
Owning and running a business can be very profitable, so protect yourself and your business with a tailored Directors and Officers Insurance Policy with The Insurance Octopus.
What your Directors & Officers Insurance Policy includes?
Breach of Contract and Damages
Directors & Officers Insurance is available in a variety of policies to suit your requirements. We can offer you effective Directors Indemnity Insurance packages that can include cover for: Breach of Duty or Trust, Investigative Legal Fees, Legal Team Expenses (covering both you as a Director and your company), Damages arising from Professional Negligence claims, Damages arising from Slander or Libel claims, Errors or Omissions, Blanket cover for the position of Director (includes all past, present and future directors) and General Damages.
Employment Liability (optional)
Employment Liability Cover protects you against situations such as wrongful dismissal claims.
Criminal Activity (optional)
Criminal Activity Cover can protect you and your business should an employee be found to have committed criminal offences related to their duties.
Legal Action (optional)
Legal Action costs businesses within the UK millions of pounds every year. Make sure both your business and private finances are protected, if someone takes legal action against you.
Why You Need Directors & Officers Insurance
It is important to have a comprehensive Directors and Officers Liability Insurance policy. You need to make sure you are protected and the law now permits you as a director to protect yourself against claims for negligence, default, breach of duty, and breach of trust which can include insurance or criminal proceedings that may be brought against a director or officer of any company type.
This will apply no matter if you are a member of a management association or a Director of a non-profit or charity organisation.
Director and Officer Insurance with The Insurance Octopus will provide you with the security you need for your business, and our Directors and Officers coverage of insurance will protect you against the many potential risks that you may come up against. Running a business can be highly profitable so you need to be able to protect your business and yourself from financial loss.
Get the Right Policy for the Right Price and Protect Yourself as a Company Director or Officer
Business insurance brokers
One of our directors and officers’ insurance experts will discuss your business requirements with you and look to compare quotes from major UK insurance providers. You will get a bespoke policy that ensures you only pay for the cover you need. We can add cover for additional items such as Employment Liability and Criminal Activity.
Get same day cover
We can provide you with your business insurance and documents on the same day in most cases (*subject to time of day restrictions), offering a range of flexible payment options, including Direct Debit.
Why Choose The Insurance Octopus?
We proudly make buying insurance different and our cover comes with a range of benefits.
Up to £5 million of cover
Claims can be expensive, that’s why we offer up to £5 million worth of Public Liability Cover. With more available upon request.
Fast specific cover
To help save you both time and money. We compare prices from a range of different insurers so you don’t have to.
An expert who knows your industry
We’ll connect you with an agent who is an expert in your field. They understand many of the challenges you face, and can truly get to grips with the type of cover you need.
Easy claims process
Accidents can happen, so when something does go wrong you can rest easy knowing our team is on hand to make the claims process as quick and stress free as possible.
No mid term fees, ever
We don’t charge any mid-term fees at all during the life of your policy – so there are no hidden fees following any changes you might need to make.
How Directors & Officers Insurance Works
Examples of directors & officers insurance in action
Food poisoning incident
When a food poisoning incident took place at a major restaurant during the busy Christmas period, the Food Standards Agency became involved in the case. Although the directors were not even in the building on the day the incident took place, they were liable for the food poisoning incident and were charged personally by the Foods Standards Agency (FSA). The cost of defending the long and protracted legal action which followed was covered by the Directors and Officers insurance that the Directors had in place.
Types of Professionals We Can Cover
Get Directors and Officers Insurance Off Your To Do List
Help protect and grow your business with tailor made Director and Officer insurance from The Insurance Octopus
Insurance Know How Making business insurance easier to understand
The ultimate small business checklist to help protect against cyber threats
Cyber threats are heard about more and more in the news with many attacks affecting larger businesses. However...
The top 10 Cyber Insurance claim types
Cyber insurance claims are becoming more and more common with each passing year. As business grows more depend...
How much does cyber insurance cost?
Cyber insurance, which covers your business against the effects of a serious cyber incident, is not an “off ...
Get to grips with Under-insurance & The Insurance Act
Inadequate cover presents a great risk to businesses – help ensure your cover is more than adequate by u...
Business Insurance Blog For all the things business & insurance
A Guide To Cyber Security For Small Businesses
Cyber security is one of the most discussed topics in the world of technolo...
Helen Bush Named Director at The Insurance Octopus
Leading commercial insurance broker, The Insurance Octopus, has appointed H...
How to Attract Students During Freshers’ Week
Universities all over the UK are preparing for the arrival of Freshers̵...