Tailored Directors and Officers Liability Insurance Solutions from Arachas for IoD Ireland Members.
Directors owe significant fiduciary and statutory duties under Irish Company Law and may be held personally liable for negligence, default, breach of duty, or breach of trust. Irish law places strict limits on the extent to which a company can indemnify its directors, leaving many key exposures unprotected. As a result, directors operate within a legal framework which can result in costly litigation, investigations, and claims that may place their personal assets at risk.
Directors & Officers (D&O) Liability Insurance provides a lawful and essential mechanism to protect directors against these personal exposures. Purchasing Directors & Officers Liability Insurance can help mitigate this risk. A core component of Directors & Officers’ insurance is defence costs. Defence costs mean reasonable and necessary fees, costs and expenses of an accredited expert retained through counsel incurred by the insured [with the prior written consent of insurers] resulting from the investigation, adjustment defence and appeal of any covered claim.
Most companies maintain a corporate D&O Liability Insurance policy but these policies may not always provide complete protection for an individual director - particularly where cover is limited, exhausted, or where conflicts of interest arise. The company policies are written on a “first come, first served” basis, meaning that early legal costs may exhaust the policy limit so attention to indemnity limits is important.
To address this gap, Arachas Corporate Brokers trading as Arachas, in conjunction with the IoD Ireland, has created a tailored D&O insurance solution for individual directors in Ireland, available only to IoD Ireland members.
This exclusive insurance solution covers directors and senior management against legal actions and their costs and helps protect personal assets. Automatic cover is available up to €1,000,000 limit of liability with no policy excess. This policy can provide protection, whether you have a single directorship or sit on the boards of multiple organisations.
What is the IoD Ireland Member Benefit
The Arachas D&O Insurance facility offers the following benefits for IoD members, subject to policy terms and conditions:
- Automatic cover up to €1,000,000 limit of liability with no policy excess.
- Full retrospective cover on the basis of no known claims and/or circumstances which might lead to a claim.
- Full limit defence costs for allegations of fraud, dishonesty, and intentional breach of law.
- Pre-Claim Inquiry cover.
- Reputation Expenses up to €250,000.
- Cover for civil fines and penalties where legally permitted.
- Insolvency Hearing Costs cover up to €50,000.
- Punitive and exemplary damages.
- Personal liability for unpaid corporate taxes.
- Worldwide Cover (excluding USA & Canada).
Avail of a Complimentary Directors and Officers Liability Insurance Consultation
Arachas is delighted to offer IoD Ireland members a complimentary and confidential consultation regarding Directors & Officers insurance. This service will allow IoD Ireland members, without any cost, to confidentially discuss any aspect of directors & officers insurance or simply to find out more information. To schedule a complimentary consultation, or to find out more, please contact Arachas by email at [email protected].
Benefit Availability
This benefit is available to all members until 31st December 2026.
Please note, you must have a valid IoD Ireland membership card to avail of member offers and discounts.
(Arachas Corporate Brokers trading as Arachas is regulated by the Central Bank of Ireland).
