Updated: March 28, 2023
Directors and Officers Insurance Broker
Looking to set up legal insurance to protect your business' employees? If so, you'll need to speak with a broker we work with
No impact on your credit score
Author: Richard Angliss - Finance Expert
Updated: March 13, 2020
Directors and officers insurance is provided by several insurers but the complexity of the decisions involved in arranging the right level of cover means that you’ll need an independent insurance broker to help you get the policy you need.
This article explains why insurers want you to work with a broker and how using one can play in your favour too.
The following topics are covered below...
Why do I need an insurance broker for a directors and officers policy?
Directors and officers insurance policies are highly complex in their make up and insurance providers want to protect their own risk. In order to be confident that they are selling you the right level of protection and you understand all the inclusions and exclusions of an individual policy, many insurers will insist that you buy cover through an independent broker.
Directors and senior management face a myriad of potential legal problems while carrying out their roles in your company. And the litigious nature of society today only serves to increase the chances of your business or a member of your team facing a legal battle. So it makes sense to ensure they, and your business, have the right protection in place.
Which is where an experienced broker can help. We work with independent insurance brokers who are experts when it comes to nailing the finer points of D&O insurance policies. They will work with you to understand your business and identify your points of vulnerability to ensure they match you with the right insurance product and provider first time.
Get in touch today and we’ll introduce you to one of the expert brokers we work with. The conversation will cost you nothing but your time and there’s no obligation to proceed on their advice.
The right protection will come down to having a thorough understanding of the business you are in, what jurisdictions your company works in and how many directors and senior management you want to buy cover for. These are the things which will form the basis of the kind of protection your business and senior staff will need.
Speak to an expert today
Can I get cover without going through a broker?
Possibly, but it’s highly likely you’ll find it immensely time-consuming and you may run the risk that you end up buying a policy which might not provide the cover you thought you’d bought, should you find yourself needing to make a claim.
An expert broker can save you time and hassle upfront by doing a lot of the legwork for you. The complications involved in understanding what cover you are buying when deciding on the right policy is only the beginning.
Knowing you’re paying a fair price and have the utmost confidence that any future claim will be handled quickly and assuredly by your insurer all play into the decision you make today.
Get in touch to find out how one of the expert brokers we work with could help ensure you get the right level of cover with a whole less hassle.
How do I find the right insurance broker?
When looking for the right insurance broker you should check that they have access to the whole market and aren’t tied to either a handful or one particular insurance provider. The insurance brokers we work with are all 100% independent whole-of-market brokers with access to every insurance provider in the UK.
As well as unlimited access to all the insurance providers, the brokers we work with are all:
- Authorised and regulated by the Financial Conduct Authority
- Business insurance experts, qualified to give risk management advice by identifying risks associated with the kind of business you do
- Experts when it comes to providing clear information and explaining the fine print in complicated insurance policy documents
- Covered by their own professional indemnity insurance protection so you can rest assured you’re in safe hands
A good insurance broker can save you time, money and potential disappointment by ensuring you buy the insurance product which will deliver when the chips are down. They will search the market for you, track down the best deal and negotiate the most favourable terms with the product provider on your behalf.
Was always happy to help and advise me best going forwards Always should enthusiasm and knowledge throughout Would defo recommend!
Very friendly and professional service.
Very friendly and professional service. Feel Im in safe hands. Thanks
Excellent Service – Highly Recommended!
Excellent service, very helpful and knowledgeable advisors. Highly recommended!
Speak to an expert insurance broker today
When it comes to buying insurance, directors and officers insurance is probably about as complicated as it can get, which is why we’ll make sure you’re connected to a professional broker experienced in setting up similar protection policies for other directors and business owners.
To find the right insurance expert, call 0808 189 0463 or make an enquiry and we’ll introduce you to a broker who specialises in cases just like yours. We won’t charge a fee for referring you and there’s no obligation to act on the advice you receive.
Ask a quick question
We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in directors insurance. Ask us a question and we'll get the best expert to help.
About the author
Richard Angliss has made a career in financial services which stretches over 40 years.
His early career was spent learning about the various financial products and applying them to prudent advice, working for one of the largest life assurance and investment firms. After that he joined the financial services arm of a very well-known firm providing independent advice to their 8 million customers.
For the last 20 years he has been involved in building software solutions that help Advisers and clients work together to achieve good financial outcomes and helping to set up three independent advisory firms. He also has written many articles for financial services publications and provided commentary for newspaper journalists.
At an early stage in his career he realised the great satisfaction that comes with being able to help people achieve their goals and protect their families. “Regulation of financial services has hugely impacted on ensuring people get appropriate advice. The issue these days is access to that advice and just as importantly regular reviews to make sure that everything stays on track”.
With the growing development of online resources such as Online Money Advisor he sees a great future for people to access advice to make their pension and investment work harder for them. Plus, of course, to ensure they have insurance products in place that will be required when unforeseen events happen.
He knows getting that balance right is crucial to prudent financial planning and the wellbeing of individuals and their families.