Directors and Officers Liability

Directors and Officers Liability Insurance provides financial protection for the directors and officers of your company in the event they are sued in conjunction with the performance of their duties as they relate to the company.

Think of Directors and Officers Insurance as a management Errors and Omissions policy. You need Directors and Officers Liability insurance when you assemble a board of directors. They will frequently make the requirement. Investors, especially Venture Capitalists, will also usually require that you show evidence of Directors & Officers Liability insurance as part of the conditions of funding your company.

Directors & Officers Insurance is needed because claims from stockholders, employees, and clients will be made against the company, AND against the directors of the company. Since a director can be held personally responsible for acts of the company, most directors and officers will demand to be protected rather than put their personal assets at stake.

Secondly, you need Directors and Officers Insurance because: Investors and members of your board of directors will not be willing to risk their personal assets to serve as a corporate director or officer, no matter how heartfelt their belief in your company.

Provins Insurance assist with the following:

• Analyse and adjust the insurance cover according to the activity of the insured.
• Adjust sums insured according to your needs.
• Ask the insurance market for quotations.
• Evaluate quotations.