1 min read Basle Insurance Agency
What does directors and officers insurance cover?
It covers legal defence costs and compensation if directors or officers are sued over alleged wrongful acts in managing the company, such as breach of duty, mismanagement or regulatory breaches.
Why directors need personal protection
Directors and officers can be sued personally over decisions made for the company. Without cover, defence costs alone can be significant.
What a policy usually covers
Policies commonly respond to defence costs, settlements and regulatory investigations arising from alleged wrongful acts. Exclusions for fraud and deliberate misconduct always apply.
When to review the policy
Review cover when the company raises funds, expands abroad or changes its board. Your broker can also check whether run off cover applies after a director leaves.
Need help with directors and officers insurance?
Read more about Directors and Officers Insurance or ask a broker for a quote.
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