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Personal Directors & Officers Insurance

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Personal Directors’ & Officers’ Liability Insurance (Personal D&O ).

We all know that mistakes happen, and even the most senior of staff aren’t immune from making errors. But did you know your company D&O policy does not protect Directors & officers in all circumstances?

This D&O only policy created by BBL supplements the more traditional D&O placement and responds when either the underlying policy is eroded or when the company is unable or unwilling to reimburse the directors’ or officers’ costs.

For example, if a company goes insolvent the liquidator is able to cancel the traditional D&O policy because it is deemed to be an “asset” of the company. A D&O only policy sits outside this “asset pool” of the company and therefore remains in place to protect the “decision makers” and cannot be cancelled!

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What is Personal Directors’ & Officers’ Insurance (D&O)?

We encourage the “decision makers” to purchase a combination of the traditional D&O policy, as the “Primary” policy, coupled with a separate Personal D&O policy which sits outside the company, hence the name Personal Excess D&O policy! This arrangement maximises the protection available to the “decision makers” yet the company still pays the premium.

This policy is another example of how BBL has created a new policy to improve the protection of our clients.

 

The Blackmore Borley Limited policy complements the traditional D&O policy but adding a Personal D&O policy protects just the individual Directors and Officers. By adopting this combined approach, the Directors (the “decision makers”) maximise the cover available to themselves but the Company still pays the premium. .

Blackmore Borley

Your insurance cover should be as individual as you. We get to know you and your interests to ensure that you have the best insurance for your lifestyle.

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