Directors’ and Officers’ insurance – why every business owner should consider it.
In the UK directors’ and officers’ insurance (D&O) is frequently held by larger companies but it has yet to become standard cover within the SME market.
Property owners’ claims example: A director of a management company was held liable due to the fact a tenant’s flat had fallen in value and was not in line with current market valuations of similar properties in the area. This was shown to be due to the director failing to recognise and subsequently fix external disrepair to the property. Without D&O cover the standard property insurance policy would not protect the director from being personally sued.
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