Directors and Officers

Directors & Officers

Directors and Officers may be held personally liable to all parties that have any interest in the affairs of the Company. In essence, a Directors and Officers Liability Insurance is a form of Professional Indemnity cover for Company Directors and Officers.

General Duties of Directors:
Fiduciary
Not to act outside their own authority, not to commit the Company to transactions prohibited by law or outside the Company’s Memorandum of
Association and to avoid placing themselves in a position where their personal interests conflict with those of the Company.
Care
That one might expect of a reasonable person.
Skill
Although, “he need not exhibit a greater degree of skill than may reasonably be expected from a person of his own knowledge and experience”, (City Equitable Fire Insurance Company 1925), a Director or Officer or anyone with a particular skill or qualification should exhibit a greater duty of skill than those without, eg. Finance Director, Company Secretary etc.

We can obtain quotes on your behalf for the directors and officers of your company from all the major insurance companies and via Lloyd's of London, offering our clients a personal first class service.

The directors and officers policies we offer can be endorsed to incorporate a company's specific needs. For instance, your directors and officers may need to be insured for activities outside of Ireland, worldwide or in the USA and Canada, which can sometimes be very difficult.

To protect your director and officers and to obtain the best quotes in the insurance market place, select Directors and Officers in the drop down box on the right and download our proposal form. Return it with background information about the company and its key Directors and Officers together with your latest set of accounts (or management accounts / projects if a new start-up) and we will forward you a breakdown of costs and covers.

For help, or if you wish to discuss the type of business or organisation for which you need cover, please telephone +44 (0) 1323 648000 or e-mail info@professionalinsuranceagents.co.uk.