Insure Against Director’s Liabilities – Our Bespoke Product

We have listened to our clients when they have told us that they are concerned at the additional duties and personal liabilities that have been placed on Directors and Officeholders (including Trustees) by the Companies Act 2006. We have worked on a solution and in conjunction with our Commercial Services colleagues we have developed a product that provides Directors and Officeholders with important protection, not provided by standard business insurance policies.

As a Company Director or Officeholder, you take on a multitude of statutory responsibilities and corresponding liabilities when you are appointed and in many instances you will have personal responsibility for your actions (and inactions) and be unable to shield yourself behind the Company. Your own private assets (including your homes – and in the very worst case your freedom) are therefore at risk.

Penalties can include unlimited fines and/or imprisonment, so Directors and Officeholders should ignore insurance at their peril.

April 2009 saw the first Company Director prosecuted for Corporate Manslaughter as a result of his Company’s gross failures, and it is anticipated that criminal prosecutions against individual Directors and Officeholders will increase substantially in coming years. It is not only construction industries where serious accidents happen - a fall in the office, or a bang on the head could be just as fatal.

These serious risks explain why we have worked closely The Perry Appleton Group to launch a comprehensive Directors and Officeholder’s Liability Insurance product (underwritten by Chartis Insurance Uk Ltd) that provides a comprehensive level of cover against these types of liabilities (subject to policy terms and conditions).

We believe that every Director or officeholder should have cover in place. Can you afford not to?

For more information about Directors and Officers insurance , please contact: