WHAT IS D&O ABOUT?
The Companies Act (and various statutes)
Stipulate that a director or officer of a company can be held liable for any damages or costs sustained by the company or any stakeholder due to any breach or deviation from their duties and responsibilities.
These directors or officers may be held personally, jointly or severally liable.
Cover is provided for either actual or alleged wrongful acts or omissions by a director or officer when acting in the scope of their duties. The liability insurance is payable to the directors or officers of a company (or to the or- ganisation itself) as indemnification or reimbursements for either:
- advancement of legal defence costs
We are ready to discuss the options with you and have access to market- leading Service Providers.
COVER IS NOW RELEVANT DUE TO THE INCREASE IN:
- Loss severity
- Regulatory scrutiny
- Litigation strategies
- D&O claim payments
- Financial restatements
- Minority stakeholders actions