Cover for Directors, Officers and Senior Staff in positions of authority who make decisions on behalf of the company which could, following an event e.g. injury to customer, lead to an action brought against them personally and not the company.
In essence, this insurance provides for wrong decisions by way of 'incorrect action' or 'inaction', which could extend to health and safety matters.
Even if you feel a customer may not take a direct action against one of the above, there is never the less the option for Insurers under a different policy applying subrogation (an insurer bringing an action in the name of an insured).
Other matters that can be added as extensions to a D&O policy:-
Fraudulent Acquisitions
Emergency cost for wrongful arrests
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Non-executive directors
Retiring Directors run-off
PR costs following misdemeanours
We have access to various markets for this type of insurance, either in additional to your Tour Operator Liability policy or as a stand-alone.
For it to form part of your company's liability insurances, please...
