As a business director or officer, you’re under constant pressure to make the best decisions for your business. Because your job is so crucial, you could be held personally liable if you make a judgement error that costs the business money. Dialdirect understands the risks involved in running a business, which is why we offer Directors and Officers Business Insurance, leaving you free to focus all your energy on your work.
Rather sweat the small (and not so small) stuff and let us handle the big (legal) things. Get a Directors & Officers Insurance quote from Dialdirect in minutes by filling in our quick online form.
What is business insurance?
Business insurance is a specialised type of insurance that protects businesses against any property damage, theft or liability claims. Basically, protecting businesses from losses due to events that may occur during the normal course of business.
There is a wide variety of business insurance coverages available to business owners, so they can tailor their insurance protection to address the specific risks facing their business. At Dialdirect, we have six different types of business insurance. These include Office Insurance, Tradesman Insurance, Errors & Omissions Insurance, Professional Insurance, 10-Ton Truck Insurance and Directors & Officers Insurance.
What is Directors & Officers Insurance?
As a director or officer of a business, you’ll understand those poor decisions can be made no matter how diligent you are. Directors and Officers Business Insurance is there to ensure that you’re covered for unintentional misrepresentation and mismanagement, alleged negligence, and more.
This type of insurance coverage is intended to protect individuals from personal losses if they are sued as a result of serving as a director or an officer of a business or other type of organisation. It can also cover the legal fees and other costs the organisation may incur as a result of such a suit.
Who needs a Directors & Officers Insurance quote?
If you’re a corporate director or officer, no matter how large or small the business is, you’ll want to have Directors & Officers Insurance. This applies if you serve as a director or officer of a for-profit or non-profit organisation (including private and public organisations). This will protect you and your personal assets if legal action is taken against you relating to a business decision you’ve made. If you hold an outside directorship position, we’ll still cover you.
Any business with a corporate board or advisory committee should consider investing in Directors and Officers Insurance.
What would you use Directors & Officers Insurance for?
You would use Directors & Officers Insurance in the event that you get sued in your official capacity as the director or officer at your company. Directors and officers can be sued for a variety of reasons related to their company roles, including:
Breach of fiduciary duty resulting in financial losses or bankruptcy.
Misrepresentation of company assets.
Misuse of company funds.
Failure to comply with workplace laws.
Theft of intellectual property and poaching of competitor’s customers.
Lack of corporate governance.
Everybody knows that lawsuits and lawyers cost a lot of money and being involved in a lawsuit could cost you everything. Dialdirect’s Directors & Officers Insurance will cover your legal costs when defending yourself as well as providing you access to quality attorneys. We’ll also pay any settlements or damages awarded against you at the end of the suit.
There are certain instances where you will not be covered, mainly in the event where you were involved in dishonest or fraudulent acts. We will not cover you for any instances of illegal remuneration or personal profits. Our cover is in place to protect you in unintentional circumstances – we’re here to look out for the good guys.
Insuring yourself against personal liability
Our Directors and Officers Business Insurance covers you for a wide range of eventualities, including unintentional misrepresentation or mismanagement, unintentional copyright, patent, or trademark infringements. As well as numerous alleged actions such as negligence, unfair trade practices, consumer protection violations, and breach of franchise agreements. Directors & Officers Insurance protects yourself against personal liability should any of these claims arise against you. Which, in turn, protects your current and future assets.
We’ll cover your legal costs when defending yourself and we’ll pay any settlements or damages awarded against you. Meaning you aren’t personally liable for any of the costs that come with having legal action taken against you.
Directors and Officers Business Insurance benefits
You have direct access to our experienced specialists who will help you every step of the way, from claim submission right through to settlement. When your policy comes to an end, you still have cover for 60 days thereafter to report a claim.
No matter how diligent you are, mistakes can happen in business, but that doesn’t mean you should pay for them with your personal assets. Protect yourself with a personalised Directors & Officers Business Insurance quote today.
Dialdirect’s Business Assist benefits
Because we want your business to be the best it can be, all of our Business Insurance policies come with the added Biz Assist benefits.
These include expert telephonic financial advice if you’ve got questions about trusts, wills, and basic financial planning. These benefits also include help with collecting debts, emergency medical assistance, and telephonic IT help. And, if your business vehicle is insured with us, you can use our Dialdirect Insurance App to request a tow truck at the tap of a button with Tow Truck Direct.
Why do I need Directors & Officers Insurance?
Directors and Officers Insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.
In many cases, directors invest their own personal wealth in the business, which means their net worth is directly tied to the financial health of the company. Defending a claim against the company could directly impact their family’s financial security and personal assets – which is not something that you want to happen.
Should you fall prey to a legal issue, this type of business cover will provide you with access to quality attorneys who can handle the claims. Leaving you to keep your focus on your running your business. This, along with paying any settlements or damages awarded against you. Keeping your, and your families, personal assets safe.
Directors & Officers Insurance quotes
As a director of a company, you already have a lot of responsibilities on your shoulders. Let us take care of one of these responsibilities with our Directors & Officers Insurance. Know that your business and personal liability is in reliable hands by getting a Directors & Officers Insurance quote from Dialdirect. Get an online quote in minutes or leave your details and we’ll call you back to discuss your options.