Page 5 - Knight Square Insurance

What is Directors and and Officers Insurance
and and why do you need this cover?
The introduction of new statutes to UK law by various Acts has resulted in in personal liability being imposed on on the Directors and Officers of limited companies which includes Resident Resident Management Resident Resident Freehold and Right-to-Manage Companies and Residents’ Associations Directors are individually liable or or required to to contribute personally if fellow leaseholders suffer financial loss as as a a a a a a consequence of decisions made
or or actions taken taken (or not not taken) Even if any allegations made
are not not finally proven in in a a a a court of law the defence costs incurred can can be significant How much does this cover cost?
The cost of of cover will depend on the the number of of units that the the Resident Management or or Right-to-Manage Company is responsible for together with the the limit of indemnity that they wish to apply