Professional & Financial

Professional Indemnity

Whether you are an Accountant, Architect or Design & Build Contractor you are exposed to the ever-growing compensation culture.

Professional Indemnity insurance covers you for liabilities that arise from professional advice or service you provide.

Directors’ and Officers’ Liability

Directors’ & Officers’ (D&O) Liability insurance provides protections from claims brought against directors, officers and senior employees for actual or alleged breach of duty, trust, neglect, misstatement, errors or omissions.

Where a director or officer is alleged to have committed a wrongful act in the performance of his / her duties and is the subject of litigation they may have to meet personally any losses arising out of the litigation, such as defence costs or actual damages, or claim indemnity from the company under the Companies Act.

Anyone who is director or officer of a company, charity or other institution run by a board or committee is at risk.

Several high profile corporate failures have led to changes in legislation and increased the duties of individuals who manage organisations both large and small. In the past D&O Liability insurance has been purchased mainly by larger companies but is increasingly seen as a necessary purchase for smaller companies.

Management Liability Portfolio (MLP)

Businesses are becoming increasingly exposed in areas such as employment practices, trading standards and health and safety which lead to unexpected costs and disruption.

Package products are available that not only protect the company but also individuals. The three core covers are:

– Directors’ and Officers’ Liability

This covers you personally, for defence costs incurred during a claim and awards made against you in e.g. Trading Standards, Environmental and administration of a company pension scheme.

– Employment Practice Liability

This covers your company against legal costs, awards and settlements for any employment claims brought against you e.g. unfair dismissal and sexual harassment.

– Corporate Legal Liability

This covers your company against legal costs, awards and settlements for any claim or regulatory action brought against you e.g. breach of Health & Safety and Taxation.