Directors and Officers Liability

The Risk

Being a director or an officer of a company can place individuals at high personal risk. Directors' personal liability for the legal and correct performance of their fiduciary duties to their companies is unlimited, but unlike companies, directors cannot hide behind limited liability - ultimately all of their personal assets are at risk.

Furthermore, directors are "joint and severally liable" - the actions of one are the legal responsibility of all. Those in non-executive roles are equally liable. Some say that they are even more exposed in view of their limited involvement with the day-to-day business of the company.

If a company, shareholders, creditors or anyone believes that they have suffered a loss as a result of a wrongful act by a director, or they believe fiduciary or contractual duties have been contravened, they can sue no matter how spurious the claim or allegation may be.

In recent years, there has been a dramatic rise in the incidence of claims, and the trend continues upwards with the aid of a legal community that remains ever ready to advise would-be litigants.

The Solution

Howden India provides Directors and Officers Liability products to clients ranging from private through to NASDAQ quoted companies. We offer a tailor-made personal service, backed up by one of the most experi-enced claims teams in the market.

The Cover

Our policy includes protection for the directors and officers:
Of the insured
Of all subsidiary companies including those acquired or created during the period of the policy
Whilst on outside boards

We also provide extensions of cover for the following:

Civil sanctions
Official investigations
Crisis management
Risk management
Employment practices
Retired directors
Severability
Punitive and exemplary damages
Run-off cover
Entity Securities( for listed companies)
Additional limit for non-executive directors

Howden India assists in providing one of the most comprehensive Directors and Officers Liability products in the market, designed to meet the needs of clients around the world.

For further information contact:

Mahesh Chainani
Howden Insurance Brokers India Private Limited
Ground Floor, Bombay Dyeing Administrative Building
Pandurang Bhudkar Marg, Worli
Mumbai - 400 025, India.
Telephone: +91 22 6655 8888; +91 22 6655 8811
Telefax: +91 22 6654 8833
Email: mahesh.chainani@howdenindia.com