Directors and Officers Insurance – What You Need to Know
First Sure Flats’ Directors and Officers insurance is for you if you’re a director managing a block of flats and you’re worried about being sued for actions you take when managing that block of flats. It’s worth noting that in law there’s no difference between a director of a management company, residents association or right to mange company and that of a major corporation and so directors of blocks of flats can be held personally liable for their acts, errors or omissions. It is surprising though how few directors protect themselves with a Directors and Officers policy, something that is best described as a ‘Should Have Cover’.
Who is 1st Sure Flats’ Directors and Officers Insurance For?
1st Sure Flats’ Directors and Officers Insurance has been created for management companies, residents associations and right to manage companies of blocks of flats and protects against wrongful acts, errors or omissions in the management of the blocks of flats for which they are personally liable.
Directors and Officers Insurance – What’s Covered?
1st Sure Flats’ Directors and Officers Insurance covers the policy holder against loss and defence costs has limits of indemnity ranging from £100,000 to £1,000,000.
The cover can be extended to include the “entity” (i.e. the management company, residents association or right to manage company) providing reimbursements for any loss and defence costs resulting from a claim for a director’s or officer’s wrongful acts, errors or omissions.
To find out more about 1st Sure Flats’ Directors and Officers Insurance with regard to the management of the blocks of flats then please get in touch, by calling us on 0345 370 2842 or if you’d like to get a free quote then just click here
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