Company directors and officers in Melbourne, Victoria could be held personally responsible and sued for these reasons:
Think of the legal costs when you’re accused of wrongful acts. Not to mention, the damaging legal proceedings and claims for compensation. As a director this can put your personal assets at risk.
FD Beck directors and officers liability insurance provides cover for legal costs. If deemed appropriate, settlement and compensation are also included. You can get cover for losses resulting from these wrongful acts:
As a company director or officer, you have to protect yourself from financial or reputational loss. Protect your reputation and assets with director or officer liability insurance. Get reliable protection through these policy features:
Directors and Officers Liability
“Side A” covers claims against directors & officers not indemnified by the company. In other words, the liability of the directors & officers are personal liabilities therefore the company is not responsible for the individuals legal costs or judgments against them for wrongful acts.
“Side B” cover is for the benefit of the company because it provides coverage to the corporation itself when it indemnifies the directors and officers for third-party claims. In other words, it reimburses the company for indemnifying the directors.
Depending upon the insurer some policies may extend to include the following benefits in their insurance policies:
This directors officers liability insurance cover:
It provides executives personal liability and financial loss protection from wrongful acts committed, or allegedly committed, in their capacity as corporate officers.
Not exactly. D&O provides cover for management decisions. Professional liability, on the other hand, covers malpractice in the business you are in.
D&O policy cover losses to a legal extent (lawsuit claims, court defences).
Like other insurance packages, this insurance policy has limits. Get in touch with our team for full information.