A policy designed to protect directors, officers, management teams and the company itself from claims and litigation arising out of wrongful conduct, breach of duty, dishonesty, negligence or mismanagement. It also covers advanced legal costs in defending a claim and in some cases fines and penalties.
Policy wordings, exclusions and the coverage offered can vary significantly between insurance companies so it is important to get the right advice.
- Directors & Officers Liability: For claims alleging a wrongful act, mismanagement, misrepresentation, breach of duty
- Employment Practices Liability: Covers claims relating to unfair dismissal, discrimination, harassment, contract breach and other employment issues.
- Statutory Liability: covering breach of a statute and the associated legal costs, fines and penalties.
- Tax Audit: Covers the costs of a tax professional to assist with a tax audit.
- Corporation Liability:For claims against the company alleging a wrongful act.
- Crime / Fidelity: Covers misappropriation of cash and property by employees. Some policies extend to cover misappropriation by external third parties.
- Cyber & Privacy Liability: For costs and damages incurred from failing to keep third party data secure.