Allianz Insurance recently carried out some research which shows that only 34% of small and medium business leaders are aware of the protection Director and Officers (D&O) cover provides, with more than half of business leaders being blissfully unaware that a company director can be held personally liable for a business decision.
Allianz Insurance have gone on to publish 2 extremely informative publications identifying the top 10 reasons to buy Director and Officers cover and in association with DAC Beechcroft, a publication called “Tough at the Top – Protecting Your Key People” explaining the risks faced by company directors and the protection that a D&O policy can afford them.
One of the main objections that we, as insurance brokers, first encountered when talking about D&O cover is that firms simply don’t accept that claims occur in this area where directors are held personally liable. In consequence, we too have published 2 documents, which both identify the specialist services that MOFS can provide for our clients and also some detailed examples of claims where the D&O market has responded to defend clients.
With direct access to London markets as well as conventional local markets for D&O being available to us, MOFS is well served to provide our clients with quality advice and appropriate insurance cover to match.
General management liability policies can be extended to include additional extensions such as fidelity, employment practices liability and more specialist pension trustee liability cover.
If you would like to talk to MOFS about your own D&O requirements we would be happy to assist.