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Happy to take on your new job as a Director or a Senior Role in a fast growing company?

Your personal assets are on the line if you are personally sued by vendors, competitors, customers or even by your fellow employees, for actual or alleged wrongful acts in managing the company. Directors and Officers (D&O) Liability Insurance is your financial backing for a standard indemnification provision which holds you harmless for losses due to your role in the company. You will want this D&O insurance to protect you as well, covers legal fees, settlements, and other costs, just in case your company is not able to afford to pay all these for you. So yes it protects the company’s pockets as well.
For entrepreneurs, you are the Director of your start up, if you are looking to secure venture capital or funding from investors, you will most likely need to have D&O coverage in place, as a form of protection and assurance for the investors. Similarly, if you want to attract and retain qualified directors, D&O coverage will protect those who might otherwise be reluctant to put their personal assets at risk.

Such insurance is not just for Public Listed Companies, it is even more important for Small to Medium Enterprises when they still do not have the financial means to defend themselves.

“My business is small I do not need such insurance.” In fact it is even more crucial to be insured, as a single legal suit will potentially wipe off all your personal assets.

Attached some articles on common cases found on our local newspaper. These type of reports can be seen almost every year on papers and many more low profile cases not reported in the news. So the risk of having a Director and Officer Liability Insurance claim is real.