Directors & Officers
Running a business is challenging at the best of times. Get the right cover to safeguard your company and employees so you can focus on growing your business whilst protecting you from the risks and potential liabilities that come with running your company.
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Directors and Officers Liability (D&O)
Directors and Officers (D&O) Liability Insurance Cover is designed to protect the assets of directors and other company officials against personal liability claims.
With strong corporate governance and regulatory frameworks in place, decision makers and their boards may find themselves the target of personal liability claims resulting from decisions they’ve taken.
Misappropriation of Trade Secrets
A Managing Director of a competing construction company sued the Directors and Officers of an Insured competing construction company for $820,000 after 4 builders left to join the Insured competing construction company. The company alleged theft of trade secrets and claimed that the 4 builder employees were still in the employment of the construction company when they began sharing proprietary information with the Insured competing construction company.
This claim was covered under the Insured’s Directors & Officers Liability policy. The claim proceeded to hearing and was settled at mediation for the amount of $680,000 with $240,000 of costs incurred in legal costs and expert fees.