Directors & Officers Liability Insurance in the UK - Chubb

Who needs D&O cover?

Companies today have to operate within a growing array of complex laws, rules and regulations, which increase the possibility of loss and consequent litigation. Nearly every industry can be affected by suits against the company, management and employees.

Who Can Be Covered?

Directors and officers, including:

  • Broad definition of directors or officers covering all types of past, present and future directors and officers
  • Managerial and supervisory employees
  • All insured persons for employment related wrongful acts
  • Employees as co-defendants
  • Retired directors, other than those retired because of disqualification from holding office
  • Outside directors who, at the request of the company, serve on an outside entity board
  • Spouse, estate, or legal representative of deceased directors
  • All approved persons who perform controlled functions
  • Any lawyer employed by the company who in their capacity as such must comply with Sarbanes-Oxley Act of 2002

What Constitutes a Claim?

There is a broad definition of types of acts and a wide definition of wrongful act which constitute the basis of a claim, including:

  • Breach of trust
  • Error
  • Omission
  • Misstatement
  • Misleading statement
  • Neglect
  • Breach of duty (including breach of duty under the Corporate Manslaughter and Homicide Act 2007 or equivalent rule in any other jurisdiction)
  • Any violation of the Companies Act or any equivalent law, rule or regulation in any other jurisdiction including:
    • Written demands, civil and criminal actions and administrative and regulatory proceedings
    • Employment related wrongful acts including cover for any breach of employment law
    • Whistleblower issues
    • Action raised against insured persons in respect of pollution
    • Extradition proceedings
    • Civil or arbitral proceedings
    • Criminal prosecution
    • Formal administrative or regulatory proceedings

View the products Chubb offers to cover directors and officers’ liability here:

  • Elite for publicly listed and private companies
  • Elite plus SME; our online D&O offering via IGNITE