Directors’ & Officers’ Insurance
Protect business leaders with tailored Directors and Officers (D&O) insurance arranged by Miller — designed to cover legal liabilities and safeguard personal assets.
What is Directors’ and Officers’ insurance?
Directors’ and Officers’ insurance (D&O insurance) provides protection against the costs of litigation and damages that may ensue from actions brought against directors and officers carrying out their management duties for a company.
This specialist form of liability cover is designed to safeguard individuals in leadership positions by covering the personal liability they may face while acting on behalf of a business or organisation. It recognises that directors and officers can be personally named in claims, and that even allegations of wrongdoing can result in significant financial and reputational consequences.
Whether a company is large or small, operating in the public, private, or not-for-profit sector, its directors and officers face a broad range of exposures linked to their roles. D&O insurance offers a layer of protection that allows leaders to carry out their responsibilities with greater confidence, knowing they have support should a claim arise.
In today’s increasingly regulated and litigious environment, Directors’ and Officers’ insurance plays a vital role in corporate governance and risk management. It is widely regarded as a core component of responsible business practice and is often a requirement for attracting and retaining experienced board members and executives.
What Does Directors’ and Officers’ Insurance Cover?
D&O insurance covers legal defence and settlement costs for claims against company leaders for:
- Mismanagement claims, such as a shareholder suing a director for alleged mismanagement causing financial loss.
- Civil actions for misleading statements and anti-competitive acts, such as accusations of issuing false financial statements and engaging in price-fixing.
- Regulatory / official investigations, such as a director being summoned to appear before a regulatory body investigating the company’s tax practices.
- Subsidiary companies, such as a director at a subsidiary being sued for a business decision that has allegedly caused financial loss.
- Extradition defence costs, such as a foreign government accusing a company director of violating international trade laws and seeks extradition.
Who Needs Directors’ and Officers’ Insurance?
D&O insurance is an essential safety net for any company with directors or key managers. Without it, individuals within your company face the risk of being unable to defend themselves against alleged claims.
Across the public, private, and not-for-profit sectors, any organisation with a management structure should consider D&O insurance to protect its leadership team.
When Should I Get Directors’ and Officers’ Insurance?
It is crucial to obtain D&O insurance as early as possible. If a limited company with external directors or investors is being formed, D&O insurance should be in place from the start.
Investors often require D&O cover before providing funding as they need to protect themselves and any board members they appoint. It will also be much harder to hire people for leadership positions, as they may insist on coverage before accepting the position.
What Does Directors’ and Officers’ Insurance Not Cover?
Any deliberate criminal actions committed by directors or officers, such as fraud or illegal remuneration, are not insurable under this policy. However, innocent directors and officers under a D&O policy will typically remain fully covered if they are co-defendants in a lawsuit.
Any live litigation that was known or occurred before the effective date of the policy began are excluded. This is addressed through a Pending and Prior Date (P&P) exclusion.
Why Choose Miller for Directors and Officers Liability Insurance?
Service
Delivering solutions on a wholesale basis, we are here to help your meet the key challenges facing you or your clients today. We operate on a 24-hour turnaround basis for VRIs and provide clear and quick communication.
Decades of Experience, Client-First Approach
Our close-knit team of experienced brokers puts client interests ahead of commercial gain. We go the extra mile on every placement—regardless of size—to deliver best-in-class products and service. This dedication ensures that our clients always have access to the most competitive and effective solutions the global market can offer.
Established Market Relationships
With over 30 years of continuous trading in the D&O space, Miller holds a respected position in the financial and professional lines market. Our strong, long-standing relationships with leading underwriters allow us to consistently deliver outstanding outcomes for our clients—whatever the risk.
Get In Touch
Andy Brett
Executive Director - Joint Head of North American Professional and Financial Risks +44 (0) 20 7031 2760 [email protected] Read more
Scott Taylor
Senior Director - Professional and Financial Risks +44 (0) 20 7031 2332 [email protected] Read moreSubmit an enquiry
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