Realising that your business could be sued by an employee, a stakeholder or customer and even an external regulator, is never a pleasant situation to find yourself in. In today’s business climate where Directors can be open to so much exposure it is essential that your Directors & Officers Insurance armour is in place to protect against any unforeseen eventuality.
Should an investigation arise due to a negative circumstance with regards to the business and failing to protect yourself, could result in not only defending any legal action which could run up huge costs worth tens of thousands of pounds, but also in addition, the loss of personal assets.
It is important to remember that Directors and Officers liability is not covered under any other liability claim and that this type of insurance not only applies to larger corporates but also SMEs, where risks and regulations are applied in the same manner, even if they don’t have the benefit of a Legal or HR department.
What does Directors & Officers Insurance do for a business?
By implementing Directors & Officers Insurance cover, it enables Directors and business leaders to focus on how they are running the company. The policy will highlight important areas of the business such as employment, health & safety, cyber liability and financial obligations, where the company will be held accountable and where there are possible risk loop holes which will need addressing.
By targeting these areas, the company is not only acting responsibly but is also meeting their legal obligations, so that everyone involved is at the forefront of their agenda.
Is your company facing challenges and looking to protect with Directors & Officers Insurance? Here at JRW Risk Solutions we offer bespoke policies to suit individual businesses and their needs. Please contact us for more information or see our website – http://jrwrisksolutions.co.uk
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