Why do I need Directors & Officers Insurance?
Under the 2006 Companies Act, directors and officers are exposed to over 200 areas of statutory liability. Directors & Officers Liability Insurance (D&O) is designed to indemnify directors and officers from claims against them personally for failing in their duties.
Even if your company has limited liability, individual directors do not, making them personally vulnerable. Cover can be extended on some policies to include all individuals in management positions, pension trustees, employment practices, fidelity and entity cover.
If a company has limited status, it has a degree of protection, but directors/partners can have unlimited liability. As such, directors of Limited companies, Limited partnerships or Community Interest Companies would be sensible to have the protection this insurance offers – noting that it should be in addition to good and safe working practices, not instead!
Voluntary organisations, clubs, and societies should consider protecting their committee members with trustees’ and committee members’ liability insurance, which offers similar protection.
Who could make a claim against a director or officer?
- Employees
- Shareholders
- Customers
- Government bodies (HMRC/HSE)
What insurance do I need to consider?
Every club, organisation, and race is unique, so no ‘one size fits all’ insurance plan or solution exists. Aside from directors and officers insurance, there are some other recommended insurance options for your club, such as:
Public Liability
Personal Accident
Cyber Insurance
Legal Expenses
Kit & equipment
Employers Liability
Event Cancellation
Sports travel insurance
Read related articles
The impact of strikes on insurance policies
Mann Broadbent who are sports, dance and leisure insurance brokers with over 60 years’ experience in insurance events are well placed to reflect on how strikes impact the industry.
Risk of cancelling PI and D&O insurance
The risk of cancelling your Professional Indemnity (PI) or Directors and Officers, and or Management […]
Heading in the right direction?
Duncan Sutcliffe, director, Mann Broadbent, airs his views on the SFA’s impending ban on heading the ball for under 12s
Interested in Mann Broadbent’s Directors & Officers Insurance?
Get in touch with us and see how we can assist your directors & officers insurance needs.
What would you like to do?
Request a quote
Make a claim
Contact us
Latest advice & news
Prostate Cancer Awareness Month
Prostate cancer awareness month kicks off this March, with the aim of continuing to raise awareness for the disease, which can have devastating impacts on men, and also their families.
How climate change can effect your business insurance
With a calendar full of events and a never-ending to do list of tasks to ensure your festival, sports event or charity event is a success, organising insurance may not seem a top priority but if the worst was to happen would you be covered if the event was cancelled?
Cyberattacks During the Milano Cortina Olympic Games 2026
Just three days into the Milano Cortina Winter Olympic Games and there have already been attempts to cause disruption to the event via cyber-attacks.
