A D+O policy is there to provide financial protection against claims made against you personally as a director (officer) or partner of your business. These can range from negligence, breach of duty, health & safety, pollution and defamation. Most policies, correctly placed will provide cover against the costs of defending or settling legal or criminal actions.
Imagine the prospect of defending against a legal action or a claim for compensation made against you. Now consider the impact of that knowing that the claim could impact on you personally… at that point you will wish you had cover in place and a policy to help offset those costs. It’s better to know you’re protected against any legal costs, fines or compensation claims made against you than to face the financial uncertainty of having to pay personally or rely on a company to fund the action. Having a policy in place is peace of mind.
A policy can be tailored to meet your requirements; its unlikely you will need an indemnity level in the millions – but there again some companies engaging in high risk activities or with specialist requirements sometimes ask for coverage levels (usually through specialists insurers at Lloyd’s) of up to £10M. It also depends on the size of the company itself. Most commonly SME companies are content to have cover up to £100,000 but for modest increases in additional premium to the base policy coverage, can secure cover in increments of £250,000; £500,000 and £1M. The best policy is to ask and see what is affordable, and ascertain what you think you are comfortable with.
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Unlike online insurers or UK-based call centres, you can pop in to speak to a human at our offices in Admiral House. Our staff are always happy to help with any enquiries you might have and guide you through the insurance-buying process. We are proud to support the local community and invest in local services for your convenience.
Every risk is different and every person has unique circumstances to accommodate. Try us for those complicated or hard to place policies. Equally for those without insurance history, or with claims, we will strive to find a suitable policy that caters for your specific requirements.
It’s far easier to deal with one broker for all your insurance needs. With a wide range of products available from different insurers, we can be your one-stop-shop for all your insurance needs either for yourself our wider family or your business. For instance – our family fleet policy enables you to place all of your household’s vehicles including cars, vans and bikes under one flexible policy.
One of the benefits of having been in the island for so long is that we can feedback the unique needs of islanders back to insurer partners. This counts when it comes to claims arrangements and for instance fighting for local choice on repair networks. It also means working with insurers to create flexible products such as our unique family fleet policy, which makes arranging insurance for your whole family that much less stressful – one premium, one renewal date, one policy.
