Directors & Officers Insurance
Professional Insurance Packages for All Types of Directors & Officers.
Welcome to Directors & Officers insurance from AIC
Directors and Officers Insurance, also referred to as D&O, covers the cost of compensation claims made against your business directors and key managers (officers) for alleged wrongful acts.
AIC believe cover offered by such policies as D&O can be an invaluable tool to a growing business. Often relatively cheap in cost the policy can be written on a bespoke basis to suit your needs but covering a wide spectrum of risk. Our consultants have specialist knowledge of this type of contract and we welcome you to contact ourselves to discuss.
As with all of our insurance packages we have a simple straight forward approach; Use our quick quote to get a rough idea on cost or use the preferred full quote form giving us a more accurate pricing model. Alternatively if you wish to discuss in person then please call for an informal chat with one of our advisors – the click buttons below should help.
Wrongful acts include
Breach of trust
Breach of duty
Neglect
Error
Misleading statements
Wrongful trading
What's included?
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Do I need it?
If your company has directors or key managers, directors’ and officers’ liability insurance can cover the cost of compensation claims made against them by shareholders, investors, employees, regulators or third parties.
Directors and officers have specific duties, responsibilities and powers relating to their positions. These are usually set out in their job description or terms of reference. If a director or officer of your company is found to have acted outside of their terms of reference, civil, criminal or regulatory proceedings can be brought against them.
Directors’ and officers’ liability insurance covers the cost of defending these proceedings, as well as any compensation costs that arise from an unsuccessful defence.
Employment practices liability insurance can be bought as an extension of directors’ and officers’ liability insurance. It covers employee discrimination claims, e.g. for unfair dismissal, harassment, or failure to promote a person.
Directors’ and officers’ liability sometimes covers defence costs arising from criminal and regulatory investigations into your company where no actual wrongful act has been alleged against a director.
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Bespoke packages
Whether you need cover for everything or you’re just concerned over one specific piece of cover, we can formulate a bespoke package of insurance around your business.
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Dedicated account manager
A dedicated account handler will look after you, from sales through to claims, so you’ll always know who you’re dealing with.
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Best quote
Our pricing is constantly monitored and from a wide range of insurers, so you’ll always get the best quote.
Need help?
Talk to one of our friendly consultants to assess your needs and find a bespoke insurance solution to suit your business.
How to make a claim
Whilst you normally have an emergency phone number stated on your policy documents, we always recommend talking to your account handler first.
Frequently Asked Questions
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Do I still need to disclose claims, convictions, criminal record and bankruptcy to insurers after all these years?
We at AIC always recommend to air on the side of caution, and disclose everything to ourselves, and we can help you decide if this information needs to be told to insurers, which normally it does.
There are different rules to follow from various sources, as an insurer may ask you to declare convictions in the last 10 years, whereas the rehabilitation act may dictate that you don’t need to declare it for more than say 5 years. DVLA may give you a different answer again for motoring convictions! Talk to one of our friendly consultants and let us help you.
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Why AIC rather than a price comparison site?
Using a dedicated insurance broker provides benefits completely unseen when using a comparison site. With AIC, you’re afforded your own dedicated account manager who specialises in the cover you are seeking. Getting to know our clients is paramount to our customer service dedication and getting to know you AND your requirements is part of that. When you use a price comparison website, you are quite literally just a number and just a click-cost.
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Why do you ask so many questions?
With any type of cover it is important to present insurers with all the information that will or could possibly affect the way they look at the risk. If this is not provided, insurers have the right to walk away from a claim, to change terms at the time of a claim, or reduce an amount paid depending on which law the insurance adheres to.
A good insurance broker (like AIC) should not be afraid to ask the right questions of a potential policy holder, or suggest ideas that will help in the risk management of the cover in question. Insurance is there to help you in the event of a problem, and it makes no sense to cut corners on something so important. We’re here to help you!
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Do you have a call centre?
We hate call centres as much as you! Our phones will never be answered by a call centre and only by a staff member. You only deal with your allocated account advisor, so you know who you will be dealing with every time you need to reach out to us.
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Do I have to pay in full or can I do instalments?
There are two main ways you can pay your insurance: the full sum to cover the next 12 months upfront, or in 12 monthly instalments over an annual period.
The major drawback to monthly payments is paying by instalment usually makes the total cost of cover higher than it would be if you paid in one go. This is because the insurance company is effectively lending you the money to pay the premium, so it will charge you what amounts to interest on the repayments you make across the year.
By paying In full you are clearing your entire payment all in one go, meaning the insurance company won’t have to lend you the money and you won’t be due any premiums on the loan.
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How can I reduce the cost of my insurance?
Great question and one we can of course help you with! Business insurance premiums are arrived at by the analysis of your likeliness to have a loss. When you apply for coverage, your information will be analysed by an underwriter who is responsible for determining whether or not they will consider writing a policy for you. Each business has completely different circumstances and we highly advise you to get in contact with us so we can understand and advise in the best possible way.
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Talk to one of our friendly consultants to assess your needs and find a bespoke insurance solution to suit your business.