In an increasingly litigious world, your company’s officers and your Board of Directors are personally at risk.

Management Liability (ML) or Directors & Officers Liability Insurance (D&O) protects the directors and officers of a business/organisation from legal action initiated by shareholders, employees, creditors, competitors, regulators and, in a worst case scenario, liquidators. ML/D&O Insurance may also be extended to protect directors against legal action from within your organisation (ie other Directors). ML/D&O insurance, in some cases, can also be extended to cover the entity itself.

ML/D&O Insurance provides your executives with protection from personal liability and financial losses resulting from wrongful acts allegedly committed in their role as corporate officers. Whilst a company is legally able to cover actions against a director or an executive, in some cases indemnification by the company may not be possible. In these cases, ML/D&O insurance may be the only means a director may have at their disposal to protect their personal assets.

Our policy

With ML/D&O Insurance, it is generally NOT a case of one size fits all - in order to ensure appropriate coverage, the solution does need to be tailored for each situation. In this rapidly evolving business landscape, your requirements also need to be reviewed on a regular basis to ensure the appropriate protection continues to be offered. AB Phillips will help you design and implement an ML/D&O Insurance policy that fits with your business. We take a three step process;

• We review what your business looks like now, and what you expect it to look like over the next two years

• We identify your corporate and personal exposures to liability

• We create a risk mitigation program that incorporates operational, procedural and structural considerations as well as the most appropriate ML/D&O coverage available.