Directors & Officers Liability (D&O)

DIRECTORS & OFFICERS LIABILITY (D&O)

Introduction

Directors and officers may be held personally liable for errors or omission while conducting their responsibilities &/or failure in carrying out their duties properly, which could lead the managed company to financial ruin.

Shareholders - in relation to incorrect prospectus information, or other breachers of duty as directors.
Regulators - such as the Central Bank of Bahrain, Chamber of Commerce and Industry, for breaches of legislation.
Competitors - arising from unfair trading activities.
Creditors - in relation to debts incurred when the company was known to be unable to meet its commitments.
Customers - for misleading conduct.
Employees - in connection with unfair dismissal, breach of equal opportunity requirements, or sexual harassment.

Key Features

Cover for financial loss due to wrongful act of the directors or officers (defense costs, legal representation costs, awards of damages and claimant’s costs, settlement amount, etc.).
Written on claim-made basis.