Management Liability Insurance
Partners, directors and officers of a company can become personally liable for the actions or omissions that they make while managing their company. Irish and EU legislation has had a significant impact on the liability of a director relating to insolvency, VAT, data protection, the environment and competition. Some examples of director’s duties are:
To promote the success of the company
To exercise independent judgment
To exercise reasonable care, skill and diligence
To avoid conflicts of interest
To declare the nature and the extent of any interest in a proposed transaction with the company.
Directors and Officers Liability Insurance protects the individual liabilities of management from the cost of defending or settling claims i.e. D&O Insurance is concerned with purely financial losses. Successful claims result from breaches of duty or trust (e.g. misuse of sensitive or confidential information), negligence (sub-standard conduct or due diligence), pollution, defamation, claims of health, safety and welfare at work.
The policy excludes:
claims for bodily injury or damage
prior and pending claims
actions arising from the dishonesty, fraud or malicious conduct of a director / officer
claims where the director has made an improper gain, profit or advantage, and
breaches of professional duty.
This policy covers a wide range of perils, reflecting the increasingly diverse implications a company’s actions can create. Directors and Officers Liability Insurance allows business owners and managers to make decisions and take actions with confidence, knowing they are protected.
Employment Practices Liability Insurance is offered as an extension to cover with some providers. This covers your legal defence costs and compensation awards for employment disputes, such as wrongful termination and discrimination.
Features & Benefits
Multiple Insurance Markets
Wide Territorial Limits
Large Policy Limits
Pays: Legal Defense Costs & Damage
Awards Within Policy Limits
Covers: Claims of Health & Safety,
Breach of Duty, Breach of Trust,
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