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Director Liability Insurance
As a director of a company, you are responsible for the company’s actions and can be held liable if the company causes harm to someone. Directors’ liability insurance protects you from claims made against you as a director, which could include allegations of wrongful trading, breach of duty, fraud or misrepresentation.
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If you are sued as a director, the costs of defending yourself can be high. Directors’ liability insurance can cover your legal costs and any damages or compensation you may have to pay if you are found liable.
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Without directors’ liability insurance, you would have to pay these costs yourself, which could potentially ruin you financially. The insurance can also give you peace of mind knowing that you are protected against these risks.
Protect yourself from being personally liable
Director liability insurance is important to have because it can protect directors and officers from being held personally liable for any wrongful or illegal actions that they may have carried out in the course of their work.
This type of insurance can cover both civil and criminal liabilities, and can also provide protection against claims of defamation, discrimination, and other wrongful acts. Without director liability insurance, directors and officers could be held personally liable for any damages that they may cause, which could lead to them having to pay out of their own pocket to cover the costs.
This could put a financial strain on them and their families, and could also lead to them being banned from serving as a director or officer in the future.
Contact our office for any more information or if you would like a quote
