Welcome to Directors and Officers Insurance (D&O)

Welcome to Business Insurance 24/7, a leading UK supplier for worldwide cover, on Directors & Officers Liability Insurance, Mergers & Acquisitions and Professional Indemnity Insurance.

Why do you need Directors and Officers Liability Insurance?

Here's just a few areas where claims could be made against you:

We could go on if you like, but if you're still unconvinced may be we should explode some myths:

Directors have limited liability


I don't have a title director, so I can't be held liable


The company can indemnify us


We are only a small company


They cannot touch my personal assets



If none of this has changed your mind you are truly an exceptional director!! On the other hand, if you would like to find out more about costs and cover to protect your company's directors and officers from being sued, click here to get a Directors & Officers Liability Insurance Quote.

Any director or officers looking after a company should not act outside their own authority, or commit the company to transactions or agreements that are outside the law or outside their own companies memorandum or association, and to avoid placing themselves in a position where their personal interest conflicts with those of the company.

Anyone with a particular skill or qualification must exhibit a greater duty of skill than those without. e.g. director, officer.

Insurance and the law - The law now permits directors to be able to protect and insure themselves against any liability for negligence, default, breach of duty, and breach of trust, this can include insurance for criminal proceedings, that may be brought against a director or officer of a company.

Lloyd’s is proposing to transfer certain EEA insurance policies to Lloyd’s Brussels. The proposed transfer will not change terms and conditions of any policy, except that Lloyd’s Brussels will become the insurer and Data Controller in respect of the transferred policies. Further information about the proposal (including whether it could affect your pre-transfer position), which policies are transferring, your rights and what you need to do can be found at www.lloyds.com/brexit-transfer

More Information On Directors and Officers Insurance...

What does this type of policy cover you for?

Nowadays, shareholders, suppliers and even employers, are increasingly litigious, coupled with directors having to deal with new regulations brought in by the government, and that is a lot of information for a single director, or even a board of directors to digest, and be knowledgeable about.

Such as the new (GDPR) General Data Protection Regulations many companies will need to appoint a (DPO) Data Protection Officers or adapt their operational methods to meet with these requirements which will be in force in May 2018.

Any director would know that their duties are vast and be aware of the time it takes to manage all of them, and this also leads directors and officers insurance to be a very important policy to have in force.

SME companies would have this protection to safeguard its’ directors against potential claims, which may arise due to a number of situations that could be faced.

Typical risks

Employment practice and HR problem; this is where an employee may have brought a claim against a director or the company for something like unfair dismissal. A directors and officers insurance policy (D&O) can include cover for claims made against directors or the company, to defend them and cover the legal costs and damages that may be awarded

You may experience issues concerning employment practice or find yourself with an HR problem, for example, an employee bringing a claim against a director, or the company, for something like unfair dismissal, which is increasingly common.

A directors and officers insurance policy (D&O) can include cover for claims made against directors or the company, to defend them, and cover the legal costs for any damages that maybe awarded.

Other risks may include

  1. Sexual, racial, and age discrimination; again the directors and officers policy will help with costs and damages for cases brought in this area
  2. Other areas that the director and officers insurance policy covers would be things like inaccurate accounting, breaking guidelines in respect of corporate regulation and laws
  3. Exceeding the authority of a directorship, wrongful trading, shareholders, wrong information in prospectus papers
  4. Claims against you or one of your staff breaching the new (GDPR) General Data Protection Regulation with fine up to £17 million or 4% of your turnover (whichever is the bigger)

This insurance policy will cover costs and damages in these and other areas.

Cost & levels of covers

You can obtain standard quotes on line at very competitive rates and most companies would need to consider the range of covers available based on the number of board members, number of staff, and what type of business they run, but for the average SME with 2/3 directors, £1000,000 cover would cost around £250 – that’s just ‘68p’ a day.

Click Here for Directors & Officers Quotes

This will protect the company and its’ directors against possible claims, and all serious operating companies should be protecting their directors against legal costs and damages awarded against them, at an average of `68p’ per day – it should be a no brainer.

Claim Examples for D & O Insurance

Help & Advice

If you have any questions, click here or call us on +44 (0) 1323 648000 or from the Republic of Ireland call 0818 333 742.

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