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Directors' & Officers' Insurance
While the liabilities of companies may be limited, the liabilities of the directors who run them are not so well protected. Directors are appointed to protect the assets and improve the performance of their company and have duties to shareholders, employees, regulatory bodies and third parties.
A mistake, whether perceived or real, and whether caused by an error in judgement or an omission, could well implicate the director personally in proceedings that are both costly to defend and time consuming. Combine this with a harsher legislative and regulatory climate, an increased number of employment-related claims against directors, and it is easy to see why litigation in this area is on the increase.
Directors’ and Officers’ ("D & O") insurance is increasingly of key importance in the boardroom and is becoming almost a necessity both for individual directors and for the companies which are required to indemnify them in the event of a claim or allegation being made.
That is where ITIC can assist you. ITIC offers a tailor-made D & O insurance product to its members. The ITIC solution covers individual directors and officers, when acting on the board of their own company or where they are representing their business on the board of another organisation, for insurable losses incurred in that capacity as a result of:
- any allegation of a wrongful act
- any criminal, civil or arbitration proceedings
- any regulatory or administrative enquiry
Simply follow the link below to complete your proposal form and send it to your insurance broker, or to ITIC, to obtain a quotation for D & O insurance.