When operating a limited company it is vital to consider whether your company and the individuals operating through the company need to take out any insurances. The need to take out insurance may be due to a legal obligation, a contractual requirement or indeed simply due a personal need.
Directors and Officers Insurance
Should you choose to become a director of a limited company you will assume various duties, responsibilities and powers. As a result you will be liable for items such as health and safety, data protection, fraud and negligence to name but a few. Directors and Officers Insurance gives protection against third party claims arising out of such duties in any of these areas. Without such a policy a director’s personal assets are at risk if a claim arises.