Directors & Officers Insurance
As a director, officer or manager of a company you are automatically exposed at law to unlimited personal liability.

Not only are you accountable for your own actions but you could also be held liable for the actions of your fellow directors and officers.

The Institute of Directors warns that “Your home, savings, investments, even your career could be under threat as a result”.

The UK Companies Acts of 1985 and 1989 give rise to over 200 areas of statutory liability.
Directors' and Officers' Liability insurance can protect you financially if a claim is brought against you.
Cover can also be extended to include spouses named in actions.
It will also reimburse your company for any payments made on behalf of directors and officers.

It will also reimburse your company for any payments made on behalf of directors and officers.

We offer the following examples of actual cases which demonstrate where liability might arise.

A full-time director defrauded his company. His two non-executive co-directors were ordered to reimburse the company from their own personal assets on the grounds that they had not paid any attention to the management of the company's affairs.

Their defence, that a non-executive director owed a lesser duty of care, failed.
Two directors of a company were held liable to creditors for sums representing the total of payments made to one of the directors in the period before the company went into insolvent liquidation. It was successfully argued by the company's creditors that these payments should not have been made whilst the company had not paid off its debts.

A shareholder sued two directors for damages arising out of their failure to secure the purchase of some land which the company had an option to purchase and where it had previously been agreed at a directors' meeting that such an option would be exercised.

A company was taken over by a French entity and the new owners sued the former Chairman and Managing Director alleging that during negotiations leading up to the sale, the former directors' had made statements and representations regarding the financial condition of the company which were false as well as providing profit forecasts which were misleading so as to induce the claimants to purchase a majority shareholding in the company at an inflated price.

Directors & Officers Insurance is increasingly viewed as a necessary condition of employment - and many directors will refuse to consider a position without it being in place.

By why use Lawrences?

Naturally, we think you should choose to get your business insurance from us because we're thoroughly respectable, local professionals who enjoy providing a great service but if you want more..

Firstly, we specialise in providing business insurance for small and medium-sized businesses.

It means that we're focussed on the needs of people who manage independent businesses - we've spent decades understanding them and finding out what they want from an insurance provider.

We hope you'll find that this means that we speak your language and look after you in a way that suits you.

Secondly, we only provide specialist policies from specialist insurers. This means that you get the cover that's appropriate for your business, and you don't pay for cover that you don't need.

It also means that, if you do make a claim, it's handled by people who understand your business, who use their extensive experience to fight your corner and who understand that most important thing is to minimise the impact on your business.

Thirdly, we will keep our meetings to the point and our recommendations clear and concise - so you don't waste valuable working time dealing with something as boring as insurance (see, we're honest too!).