The Standard Syndicate offers Directors’ and Officers’ (D&O) Liability insurance.
Why is this cover needed?
- Directors are responsible to their company, their shareholders, customers, competitors, creditors and to regulators for damages caused by acts contrary to the laws under which the company is established, the articles of association of the company or acts performed without the required due diligence
- All directors and officers of the company who make harmful decisions (except those who prove they were not involved in the decision’s adoption and implementation) are jointly and severally liable for any damages awarded.
- Liability for damages arising from the actions of directors and officers is unlimited
- D&O cover provides financial stability to the company and peace of mind to the management team
- D&O protects the personal assets of the directors and officers, and the company and its balance sheet from the cost of defending claims which arise from their actions
What will be covered?
- Directors’ and Officers’ liability/liabilities
- Extension to include Masters, Designated Persons Ashore or navigational personnel
- Cover designed to dovetail into P&I cover
For further information please read the fact sheet on the right. If you would like to receive a proposal, please complete the form on the right and submit to email@example.com or get in contact for an editable version.