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Why do you need Directors and Officers Liability Insurance?

Directors and Officers in any company have duties and obligations, for which they are personally responsible. Such liability can be incurred, not only as a result of their own activities, but also from the activities of fellow directors.
When indemnifying a director, a company may incur liabilities that have a severe impact on its bottom line. A Directors' & Officers' Liability policy will address the concerns and liabilities of both the director, and the company when indemnifying the director.
 Here are just a few areas where claims could be made against you:

• Companies Act 2006 (hundreds of possible areas of non–compliance)
• Health & Safety at Work
• Investigation expenses
• Corporate Manslaughter
• Former directors and non-executives
• Mergers and Acquisitions
• Data Protection Act
• Disability Discrimination Act
• Racial, Sexual and Age Discrimination
• Insolvency Act
• E.U. directives and regulations
• Consumer protection etc etc.

If you're still unconvinced here are some of the myths:-

Directors have limited liability - NO THEY DO NOT !
I don't have a title of ‘director’, so I can't be held liable - YES YOU CAN !
The company can indemnify us - NOT IF IT GOES BUST ! 
We are only a small company - THE SAME LAWS APPLY !
They cannot touch my personal assets - YES THEY CAN !

At C J Higgins we believe Directors' & Officers' Liability insurance cover, should form part of a comprehensive risk management program designed to provide protection against the exposures the company and its directors and officers face.

If you wish to discuss this further, please contact Neil Hunter on 02890 730713 or e-mail him on neilhunter@cjhiggins.co.uk