- The roles of company directors and officers have become more demanding because of the increasingly challenging responsibilities, regulatory requirements and pressures of litigation
- These officials carry personal responsibility and liability for their acts and omissions
- Liability Insurance can help protect directors and officers against the financial burden of litigation, damage to their reputation and loss of personal assets.
- Cover for legal costs and expenses is important as litigation involving company directors and officers is often difficult to deal with and costly.
- Liability Insurance provides company directors and officers with the confidence to deal with the challenges of business.
- This policy protects company directors and officers against liability for their wrongful act or omission committed in their capacity as company directors or officers, including but not limited to:
- Wrongful misrepresentation
- Breach of trust
- Breach of fiduciary duty
- Breach of warranty of authority
- Unlawful default including: out-of-court settlements; defence costs and expenses, and compensatory damages awarded against the company directors and officer; costs of appointing legal expertise
The details furnished above are only a summary of product features and do not describe the entire terms, conditions and exclusions on the Policy.