Directors & Officers Liability

Business and individuals

Unfortunately, we see too frequently a number of issues with the type of contract being provided to a client, whereby it fails to specifically address a number of fundamental issues key to the protection of the business and individuals. Not all contracts are the same and a there is no doubt that merely recommending the standard “off the shelf” cover is required is not sufficient in what is now a majorly litigious arena. Bespoke endorsements and therefore cover are now often required given the multitude of areas customers can find themselves working in. We are very often asked to undertake a strategic review for clients into the adequacy of a contract wording and in most cases it fails to address simple and very evident issues. This is a fundamental lack of knowledge that leads to such errors and when claims materialise (which they do!!) the consequences can be considerable from a personal perspective. In general, contract wordings alter over time, and as we review these against the risks inherent to a customer, it is imperative the wording being used is regularly subject to scrutiny to allow a bespoke evolution to address these. We don’t believe in providing a standard contract from a small panel of insurers, but rather look in detail at if the contract is actually going to allow evolution via engaging with the client and the wording itself.