As a business you are responsible for the actions of your directors, senior staff and employees. As such, most claims made will involve the company, either as the sole target or jointly with one or more individuals. This means that this policy type is aimed at providing a level of protection for you and your fellow directors, officers and even employees as you will have an unlimited personal liability for decisions and actions you make on behalf of your company. It would be important to add that these can be civil, criminal or regulatory in nature.

Civil claims include historic common law duties which have now been set in law predominately under the Companies Act 2006. Put simply these give rights to others including shareholders, investors, employees, customers and creditors to take legal action against you if they believe you have acted negligently or not in the interests of your company. Criminal or regulatory claims are those that impose a personal liability on you for your actions and numerous government regulators have the power to investigate or prosecute you. In the most serious of cases, you can be imprisoned. Even if you have done nothing wrong, you will need to incur significant legal costs in obtaining the necessary legal expertise to defend you.

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