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 experienced claims teams in the market.
The Cover
Our policy includes protection for the directors and officers:
We also provide extensions of cover for the following:
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:
Mr Vibhaw Kumar
Senior Vice President – Liability & Special Risks
Telephone
+91-22-6655 8810
Email
vibhaw.kumar@howdenindia.com
Copyright © 2018 Howden Insurance Brokers India Pvt. Ltd. All rights reserved. IRDA License No: 0263 | License Validity Period :18/05/2016 to 17/05/2019 | Broker category: Composite