What is it?
Directors and officers’ liability cover is insurance that offers protection for directors and managers of an organisation from claims which may arise as a result of any actions or decisions they take during the scope of their regular duties. It can also cover the legal fees and additional costs the organisation may incur.
Some examples of risks include:
- reporting errors
- failure to comply with regulations
- creditor claims
- mergers and acquisitions
- shareholder activity
- insolvencies.
Why do D&O premiums increase for the housing sector?
The premiums increase depending on how changes in circumstances affect the market. This can include the rise of defence costs or changes in regulatory practices. This year, the premiums have also been affected by the Covid-19 pandemic.
What does SFHA provide?
SFHA provides directors and officers’ liability cover for claims made against member organisations. Our group cover means that claims will be covered on a first come, first served basis until the value of the cover has reached capacity.
SFHA Members can download the insurance certificate by clicking here.
What to do in the event of a claim
In the event of a claim, please contact TL Dallas with the details of your claim and the cover provided as part of your SFHA membership.
Email: moira.logan@tldallas.com or Bernard.dunn@tldallas.com
Phone: 0141 204 0300
Where to go for more information
You can contact TL Dallas for advice and information on directors and officers’ liability cover, including for further information about what is covered and how to obtain top-up cover.
