Directors’ and officers’ liability insurance, or management liability insurance, is insurance cover that offers financial protection to those who are the director, partner or officer of a company. It is designed to cover the cost of claims for compensation made against the insured individual.
Being a director, partner or officer of a company brings with it certain responsibilities – to employees, members of the public, investors and regulators. It also exposes the individuals holding the positions of director, partner or officer to personal liability for the actions or omissions they make in the performance of their company duties. This means that they can personally be the subject of claims which could lead to the payment of fines, compensation or imprisonment.
Directors’ and officers’ cover you can be confident that you and any other insured directors, partners or officers are protected against the cost of defending or settling.