Today's Directors and Officers (D&Os) operate in a fast-paced and complex environment, where they can potentially be held personally liable for the mismanagement of the company due to wrongful acts. The corporate environment has become somewhat volatile, problematic, and litigious. Business leaders will often have to make fast, difficult decisions under immense amounts of pressure, and these decisions don’t always produce favourable results. A single flawed or ill-informed decision could have catastrophic consequences in this ever-evolving legislative landscape, resulting in that person being held personally liable or even sued by employees, customers, investors or competitors.

In many cases, individual directors or officers are held entirely and legally liable for the adverse outcomes brought about by, what was, an innocent mistake, a simple error in judgment, or a no-win scenario. This could easily spell both personal and professional ruin. Thus it is vital that any person who takes on these difficult positions should make sure that they have suitable Directors and Officers Liability Insurance cover in place.

Directors and Officers Liability Insurance is designed to reasonably indemnify directors and officers – vital cogs to the running of any business – from such claims, and protect them from any personal loss. This type of insurance policy not only benefits the business, in covering the reimbursement of legal fees and other costs, but also protects the individual and / or their spouse from the loss of personal assets.

Your company does not have to generate millions of Rands for your directors and officers to be personally prosecuted over their management of company affairs. In fact, smaller businesses with fewer assets need protection just as much as large, deep-pocketed corporations.

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What does Directors and Officers Liability Insurance cover?

Directors and Officers Liability Insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.

Directors and Officers Liability Insurance will cover some of the most important facets that have the power to cause detrimental effects on both an individual and a company. First, it provides coverage for personal liability – claims made against directors and officers for "wrongful acts" where indemnity from the insured company is not available. Secondly, D&O insurance provides company reimbursement coverage: Where the insured company indemnifies the director or officer, the policy will reimburse the insured company. Third, it also provides securities entity coverage: companies who raise or issue new capital can buy additional coverage for claims against the company should a claim arise from a wrongful act. As well as protecting the company, the insurance covers legal fees, settlements and many other costs.

Directors and Officers Liability Insurance is designed to reasonably indemnify directors and officers – vital cogs to the running of any business – from such claims, and protect them from any personal loss. This type of insurance policy not only benefits the business, in covering the reimbursement of legal fees and other costs, but also protects the individual and / or their spouse from the loss of personal assets.

How Can I Get The Right Quote For Directors and Officers Liability Insurance?

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