Why boards and senior management need D&O
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.
Taking the pain out of investigation
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.