Company directors and officers insurance


If you’re a director, partner or officer of a company you’ll have extra responsibilities to your employees, members of the public, investors and regulators. That can be rewarding, but it also means you could be more exposed to a range of risks if things go wrong and your personal assets could be at risk. Hiscox company directors and officers insurance, also known as management liability insurance, makes sure you’re protected.

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About company directors and officers insurance


What does company directors and officers insurance cover do?

It’s there to protect you financially against any claims made against you personally as a director, partner or officer of your business. From health and safety concerns to a claim for breach of duty, negligence, defamation or even pollution, our insurance will cover you against the costs of defending or settling legal or criminal actions.

When should I get company directors and officers insurance?

It would be great if you could predict when something might trigger legal action or a claim for compensation against you. But you can’t, so it’s a good idea to have insurance no matter what type of business you’re in. It’s better to know you’re protected against any legal costs, fines or compensation claims made against you than to face the financial burden yourself.

How much company directors and officers cover will I need?

The level of cover you need will depend on what you do for a living and the kinds of risks you’re likely to be exposed to. We can cover you from £100,000 to £10 million but your policy is as personal to you as your job is. We’ll work with you to figure out exactly what you need and we’ll tailor your policy to your sector and your role.

Get a quote


For more information and to find an expert independent broker to quote and buy from, call us on

0800 2800 351
Mon - Fri, 8am - 7pm, Sat, 9am to 2pm, excluding bank holidays. Calls are free from a landline and some mobile contracts

Where directors and officers liability insurance cover can help


Health and safety


Your new starter becomes seriously injured due to an accident at work, caused by a breach to the Health and Safety at Work Act 1974, and they file a claim against you. As a result, you need to pay legal expenses and compensation which are covered by your insurance. Your policy also protects you against breaches of the Corporate Manslaughter and Homicide Act 2007.

Breach of duty of trust


An employee claims you have mismanaged the administration of their non-defined pension scheme as their statement isn’t showing what they were expecting. They choose to sue you as the company director and an official regulated investigation is launched. While this situation isn’t anything you’d ever envisaged, your directors’ insurance covers you for the costs of defending yourself and for any potential resulting compensation.

Negligence


The shareholders of a small construction company were assured by the managing director that an investment into a property venture would be an opportunity for the business to grow. But due diligence was lacking and the venture failed with significant financial losses. The shareholders believe negligence was to blame and start legal proceedings against the managing director. Our insurance will cover the legal costs and any subsequent compensation.

What’s included in your directors and officers insurance cover


We’ll cover you if:

  • You face claims by investors or other shareholders (including directors).
  • You’re facing a claim from an employee injured at work for compensation.
  • You made an error in the administration of a pension or employee benefit scheme and you’re facing legal action from financial regulators and individual employees.
  • You made a statement about a competitor that was incorrect and they’re now taking action for defamation.

 

Need more details?

Download a summary of what our directors’ and officers’ liability insurance covers and the policy wording here:

Very helpful guidance on website for first time company director.
RH from Sussex
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Get a quote


For more information and to find an expert independent broker to quote and buy from, call us on

0800 2800 351
Mon - Fri, 8am - 7pm, Sat, 9am to 2pm, excluding bank holidays. Calls are free from a landline and some mobile contracts