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D&O Insurance: Important Questions to Ask…

Director Factsheets

This Director Factsheet is courtesy of McCann FitzGerald

Directors know that directors’ and officers’ (“D&O”) liability insurance is important, particularly in regulated and prudential industries and in businesses that operate in the USA. A director will often ask a company how much D&O insurance cover there is in place before he or she accepts appointment to its board. However the amount of insurance cover is not the only question for a director to ask because the detail of policies differs, ‘small print’ may limit the directors’ protection and, in practice, some insurers are slow to pay. Simply having a D&O insurance policy in place may give false comfort. Therefore this factsheet looks at other considerations of which a director or a prospective director should be aware.