Whether in a public or a private company ,today’s directors are now legally more liable for their actions than ever before.
Traditionally ,most actions against directors were brought by dissatisfied shareholders, usually in connection with mergers or acquisitions. Increasingly, however, more emphasis is now being placed on the shareholder concept whereby directors need also take into account the interests of their employees, customers, suppliers and the community at large.
Protects the directors and officers of a company and can be extended to include associated companies and appointments held by directors in an outside company.
The policy provides indemnity to the director for legal liability arising from a wrongful act, to cover the cost of representation or defence in civil or criminal proceedings or in official investigations into the affairs of the company.