Directors of any company face demanding challenges, they make serious and difficult decisions, often facing scrutiny for the choices they make.
Company law places a number of responsibilities on directors and protection for compensation or liabilities is a prudent course. Decisions directors make may lead themselves exposed to the risk of personal, civil or criminal liability. With ever changing legislation there is increasing pressure to hold individuals to account. If you are a director (or an individual who makes decisions on behalf of the company) you may find yourself in the firing line. Directors cannot hide behind the corporate entity of the business, they are often held personally liable for their actions.
- Who can bring a claim?
- The Company
- Employees and former employees
- Regulatory bodies / Government agencies
- Company suppliers customers and buyers
Who is covered?
- Directors /Officers who make decisions on behalf of the company
- Cover can be extended to protect the corporate entity of the business which can cover corporate manslaughter and employee issues
- If you are a director of a business it is well worth protecting yourself both personally and for the business