Directors and Officers Insurance Services

We aim to provide an affordable, but comprehensive solution

Osprey Insurance Brokers provides support and assistance to a global client base in all areas of risk mitigation. We aim to provide an affordable, but comprehensive solution that helps to reduce risks in even some of the most high-risk situations. We utilise our extensive experience and numerous global connections to help meet your goals.

Headquartered in Malta, Osprey Insurance Brokers is regulated by the Malta Financial Service Authority and licensed to provide liability protection insurance brokering services. Here’s a look at how you can secure your business with Directors and Officers liability insurance

Our Directors and Officers Liability Insurance

Directors and Officers are the leaders of a business. In increasing rates, they’ve become more vulnerable to than ever to litigation and costly settlements. Mitigating these risks tends to be essential to ensure a business can maintain the services and products offered while also retaining the top talent available. To achieve this, Osprey Insurance Brokers offers a wide range of D&O insurance plans, each one customizable to meet the specific needs of your organisation no matter where it is located or what it does around the world.

D & O insurance brochure

Why Senior Management Needs D&O Liability Insurance

The administrators of a business, often called the Directors and Officers, carry numerous responsibilities related to the business. The way they conduct themselves, the advice they provide, and the trust they garner from their customers, employees, and others is always essential to their success and to that of the company. However, claims against these individuals can put the company on the line. Often, claims made against senior management within the company can place the company’s assets and reputation on the line. This occurs in situations of actual or alleged breach of duty, claims of neglect, misstatements, and errors & omissions. With liability insurance specifically designed to mitigate these risks, companies can operate on a more even playing field and reduce the risk that such a claim can level the finances of a large or small company.

It’s important to note the sheer level of increasing risk in this area. Numerous regulations have gone into play in the United States, European Union, and most other modern countries that provide intense reporting requirements, financial reporting, corporate governance requirements, abuse elimination, discrimination elimination and much more. Executive behaviour is more closely monitored than ever and litigation is more common than at any other time.

Complete Service for Directors and Officers Liability Needs

Osprey Insurance Brokers offers a wide range of supportive services and complete policies to mitigate many of the risks associated with senior management operations, mistakes, and errors & omissions. Key components of these plans may include the following.

Investigative Support Cover

A key risk for many moderately sized businesses and larger is investigations. A larger number of governing bodies, as well as authoritative organisations, have taken the step to investigate a company for alleged actions. There is more attention than ever on company practices, methods, and motives. In some cases, investigations into an individual leader within a company can lead to investigative actions for their company. Investigative support often provides aid in immediate expert legal guidance becoming available. This can help to prevent situations from worsening.

Shared Responsibility Cover

Some situations result in shared responsibility. Here, directors and managers may be jointly at the same or at different levels responsible for errors. They may be liability, made an error, have financial or personal consequences impacting the business, or who have acted in some way together to allegedly violate business promises, practices, or legal elements of the company. Shared responsibility cover provides a higher level of protection not just for one individual, but for instances when negligence or liable claims occur against the entire group or more than one member of it.

Defence Support Cover

Individual Directors, or Officers, or other senior management within a company may face charges and claims from the government, another authority organisation, or other businesses and individuals. In these situations, D&O liability insurance can provide financial support for legal defence. This will aid in providing comprehensive legal support in trying situations. It often includes:

  • Necessary investigations for any claims
  • Understanding of local laws and federal guidelines – on an international scale
  • Aid in forming a defence against the claims
  • Resources to aid in supporting any financial support necessary to defend against such claims such as research, witnesses, expert testimony, or others
  • Highly qualified, field and industry-specific legal representation
  • Assistance from the insurer for all types of claims and instances

D&O insurance for global corporations must support legal representation within the country of operation. This means having a professional that understands that legal system and the needs of the company within that framework is essential. This is one of the most important components of any Directors & Officers liability insurance plans.

Personal and Professional Cover

Claims and actions taken against a company can also impact the individual Directors and Officers of it. Much like how the actions of an individual can impact those of the company, many senior management officials can face consequences when a company suffers losses or allegations of wrongdoing. Personal and professional responsibility cover aids in expending protections to individuals in such situations. Many Directors and Officers face a high degree of personal liability risk simply by working with a company. This type of cover mitigates those risks.

It can help in various ways. This includes aiding in fines resulting from settlements or damages, disqualification of licensing, reputation matters, and even possible imprisonment. The D&O liability insurance policy may provide immediate and highly qualified professionals to defend against such claims and threats and aid the individual senior management official through defence and recovery.

Key Features of Advanced D&O Liability Insurance Plans

Liability insurance policies range widely. Many companies must carefully consider the plans they obtain to ensure they provide comprehensive support. Key features to look for in the most advanced and complete policies include the following:

Comprehensive Allegation Response for:

  • Consumer protection violations
  • Unfair trade practices
  • Breach of contract
  • Failure to deliver
  • Securities fraud
  • Mismanagement and breach of fiduciary duty
  • Regulatory actions brought against the company from government agencies (not limited to the E.U. or U.S.)
  • Self-dealing and conflicts of interest
  • Wrongful interference with contracts
  • Cover for non-indemnifiable and corporate reimbursement claims (including securities-related claims)
  • Non-cancellable policy cover
  • Anti-rescission provision for non-indemnifiable claims coverage
  • Outside directorship cover
  • Coverage for lawyers employed by the company

Coverage for Your Team:

  • All company executives, employees, and the company itself
  • Protections may extend to executives’ spouses or domestic partners in situations of person’s wrongful acts claims
  • Advisory board members, management committees, and other boards

Extending Protections:

  • Protection can be put in place for prior acts in some situations, extending the reach of the policy
  • Coverage can continue through situations of reorganisation; policies generally will terminate when a parent organisation will come out of bankruptcy

 

Let Osprey Insurance Brokers Work for You

Customised, Complete Director and Officer Liability Insurance is available from Osprey Insurance Brokers and our affiliated organisations. Work closely with us to aid in mitigating the risks your organisation faces. With our extensive experience aiding global organisations, we can provide companies with both affordable coverage and reliable results. Expect personalised service and outstanding support for all of your needs from our dedicated staff. Our industry leading team is available to discuss your specific areas of concern and needs while also working to meet your budgetary requirements. Contact us today for a quote or to schedule a consultation.

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