Director & Officers (D&O) insurance provides legal defence costs and cover for any final settlement or compensation award, as well as crisis costs and PR costs for claims made against directors of a business.
Claims can be made against the directors and officers within your organisation by your shareholders, fellow directors and employees as well as by creditors, funders, customers and regulatory bodies.
In an increasingly litigious and regulated society, claims against directors and officers are becoming more frequent.
It is vitally important to consider that the legal defence costs in defending a claim can quickly run in to tens of thousands. D & O cover is a proactive approach to protecting the directors and officers in a business.