Directors And Officers Insurance
If you’re a small business, Directors and Officers Insurance may seem like something which doesn’t apply to you, as management of larger corporations can attract more claims around their decisions. But that’s not to say that as the director or non executive manager of a business, you don’t regularly make defining decisions that have major bearings on your employers, stakeholders, other organisations and members of the public. Such decisions may open the door for consequences, potentially in the form of a claim against you as an individual, not the company.
While, as a small or medium enterprise your turnover may be lower than a large global organisation, in proportion to any legal costs and awards, the impact of claims of wrongdoing, either alleged or actual, could have a major affect on your business.
External claims can come from your suppliers, competitors and customers amongst others, while the company itself can raise an internal claim. A Directors and Officers policy arranged by BHK can protect against claims cropping up from accounting mistakes, in projected profits for instance, HR issues and regulation breaches to name a few examples.
Wrongdoings only need to be alleged to be taken through a long and expensive court process, one that could be supported with Directors and Officers insurance in place.
At BHK we already support a growing number of businesses who have recognised the important role that Directors and Officers Insurance has to play in protecting their business. If this is something you would be interested to find out more about get in touch with one of our team members.