CCW Global can provide comprehensive Directors and Officers Insurance coverage to businesses in Hong Kong and throughout the Asia-Pacific region.
Directors and Officers Insurance, also known as D&O Insurance, protects businesses from costs which are related to investigations, claims, and law suits made against a company’s directors or officers while they are acting in the official capacity of their employment.
Each Directors and Officers Insurance policy provided by CCW Global will be tailored to meet the exact requirements of the specific company being insured.
As illustrated above, a D&O insurance policy indemnifies a company’s Directors and Officers against civil liability, and their defence costs in criminal proceedings, with regards to any “wrongful” acts performed in their official capacity of employment with a company.
This type of corporate insurance is designed to provide a wide scope of protection for responsible persons in a company against the possibility of human error and employee concerns. However, the coverage will normally be split into two main areas: Directors and Officers Liability and Employment Practices Liability.
Under this area of a D&O insurance policy, the coverage will typically provide protection for payments and/or defence costs resulting from Management Error Claims, Employment Practice Errors, and Outside Entity Director Claims.
Coverage under the D&O liability section of these insurance policies will normally include protection against:
Under this coverage, company directors and officers (or responsible persons) are protected against any actual or alleged act, error, omission, or defamation by other company directors or outside entity as long as the individual who is the target of the claim is acting in their official employment capacity.
The second type of protection provided by a D&O insurance plan comes in relation to Employment Practices Liability.
Under this type of cover, Directors and Officers are insured against an act or omission which violates a natural person’s employment rights relating to their actual or possible employment by the company or by an outside entity.
Coverage in this instance is provide for:
As such, including D&O insurance which offers Employment Practices Liability is an efficient way to protect senior company officers against any actual or perceived liability claims in relation to employment concerns for the business’ staff.
If you would like to arrange a free no-risk no-obligation consultation with a CCW Global broker to discuss D&O insurance coverage for your company, please Contact Us Today.
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