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.

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Target Group

  • 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.

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