Administrators, managers and directors of any company, regardless of its size or activities, bear significant responsibilities in relation to their role and the way they conduct themselves. This may result in claims against them for actual or alleged breach of duty, neglect, misstatements, errors and omissions.
There are a growing number of governing bodies and authorities that can investigate a company, including a growing focus on smaller and mid-sized companies. Even if an individual is not yet personally under investigation, immediate expert legal guidance can be sought under the policy to help and perhaps stop the situation becoming more serious.
As directors and managers are between them jointly and severally liable, an error on the part of one can have financial and personal consequences for the others, who may have acted completely correctly. Strong cover, which ring-fences the cover individuals can receive, can help build the confidence required to work together.
Actions against the company and its management can involve a high degree of personal liability for the individuals. With potential penalties that range from hefty fines, to disqualification and possible imprisonment, the need for an immediate and effective response to any threat is clear.
Investigations and court cases are time consuming and very expensive. D&O cover from AIG assures the individuals protected that they will have the highest quality legal representation and assistance from the first moment that an action commences.
AIG is the world leader in D&O insurance and we ensure our clients are protected against new and emerging types of risk by updating our cover regularly. This expertise extends to the support of our claims teams, who can draw upon the experience of our world-wide network.
Protection for claims brought against directors, officers and senior employees of mid to large sized companies for actual or alleged breach of duty, neglect, misstatements, errors or omissions. Entity cover for securities claims is also available.
A modular product offering D&O, Corporate Liability, Employment Practices Liability and Crime cover for companies in the private sector. D&O cover must be purchased as a minimum, the other covers are optional. BusinessGuard Plus+ from AIG is designed to provide flexible and comprehensive protection and services to cope with the downsides that occur in business, particularly in the increasingly litigious modern day environment.
A modular product offering D&O, Corporate Liability, Employment Practices Liability and Crime cover for companies in the non-profit sector. The policy covers the Not-For-Profit entity and any subsidiary (under the control and influence of the entity at inception), as well as all natural person trustees, governors, employees, directors, officers, pensions schemes, shadow, de facto and outside entity directors for all insurance covers. In addition all volunteers are included for D&O cover. D&O cover and Corporate Liability cover are included in the standard offering, to reflect the nature of claims brought against non-profit organisations.
A modular product offering D&O, Corporate Liability, Employment Practices Liability and Crime cover for partnerships. AIG has developed an insurance solution that focuses on the needs of professionals in their managerial capacity. This product complements existing professional indemnity covers and provides real peace of mind for partnerships, knowing that they have protection from the unexpected costs associated with investigations and tribunals, not to mention defence costs.