Small business D&O insurance

Protect the people in charge

You're the big cheese, the head honcho, the boss.

No one tells you what to do, right?

Wrong.

The reality of being a company director in the UK is that you and your fellow bosses have a duty of care to, well, pretty much everyone.

If a regulator, shareholder, employee, customer, competitor or member of the public thinks your firm hasn't toed the line – for whatever reason – they can take legal action against those who run it.

As a director, you're automatically exposed to unlimited personal liability. In short, you have to pay.

But it's not all bad news. You don't always have to rely on deep pockets and a good solicitor when things go wrong. A comprehensive directors' and officers' insurance policy will do just as well.

If you or your firm is accused of financial mismanagement, breaching company law, health and safety failure, or employment-related wrongdoing, your policy steps in. It pays your legal bills and compensates the aggrieved party if needs be.

You get protection for three things: you, your business and your personal assets.

Priceless.


Why do I need directors' insurance?

You don’t.

It’d be great if we could say that and mean it. But we can’t.

Accusations are made, solicitors get involved and people want compensation. Rightly or wrongly these things happen every day and, sooner or later, you could be on the receiving end.

A claim won’t go away if you ignore it. And there are no shortcuts. You have to Do Something About It.

So, you need D&O insurance because you have a business to run; because you have limited funds; because you’re not legally trained; and because your reputation matters.

What else is there?

How much D&O insurance do I need?

Solicitors are expensive. Very expensive. And you'll need the best if a claim is made against you.

Luckily, your policy comes with a team of specialist legal experts ready to fight your corner. The higher your level of cover, the more your insurer pays and the less likely it is you'll have to open your chequebook.

Always bear in mind that you can’t have too much cover. Your legal defence can cost many tens of thousands of pounds – and that’s before the compensation bill from your client arrives. Your level of cover has to be enough to cover all of this.

What else do I need?

Professional indemnity insurance is for claims and allegations of negligence, mistakes and things you've failed to do. Essential if you provide specialist services to paying clients.

Public liability insurance is for when you go out and about on business, or have visitors to your office. It’s for claims of physical damage to property and people. Useful if you’re clumsy.

Employers’ liability insurance covers your business if an employee sues it for damages. Claims are usually because they’ve suffered injuries and illnesses as a consequence of working for you. It’s a legal requirement for UK businesses with employees.

Office and property insurance covers the things in your office (furniture, plants, fixed IT equipment etc) and portable insurance covers gadgets and technical equipment away from the office (laptops, tablets, projectors etc). If you’re not sure it’s worth insuring, add it all up – it’s probably worth more than you think.

Business interruption insurance means you can still work when your office is out of action. Be it flood, fire or flea infestation, you’re covered for the costs of setting up elsewhere and for any lost revenue in that time.

Why should I buy my insurance from you?

Glad you asked.

The simple answer is: we know what we're doing. Professional insurance is all we do so we know what you need, even if you don't.

We also know that buying insurance can be, well, a bit of a pain. So we make sure getting yours is quick and hassle-free.

We do all that while treating you like a human being, too. You won't find a call centre here. Or a phone menu. And we've banned nonsense insurance jargon.

Anything else? Well, there's the great stuff you get, such as 10% off everything at MOO. We have an 'I'm insured!' badge for your website too – perfect for the professional professional.

Also, you get to talk about your business in front of thousands on our blog, and we'll give you money each time you recommend us.

Plus, every insurance-related question you can think of is answered in our School of Risk, and you'll get our quarterly risk advice email – 'The Waggle' – to help you avoid problems in the first place.

If you're after a second opinion, have a look at our customers' feedback. They're the ones you should really listen to.

School of risk for directors
School of risk for directors

Don't take cover

We're not going to beat about the bush here.

If you're a business owner or boss, you definitely don't need directors' and officers' insurance.

Don't believe us? The people in that picture don’t have it and look at how happy they are.

Read more...

Buy online in minutes. Less admin, more business!
yay banner image
  • No admin charges
    For anything, ever
  • Buy online in minutes
    No forms, no fuss
  • Speedy service
    Less admin, more business
  • Interest-free Direct Debit
    Your budget, your way
What our customers say

Very easy to find the cover I wanted and to put it in place. That ease of doing business is key to me.

An efficient, convenient service.

All aspects of contact, quotation and putting cover in place were exemplary.

Refreshingly straightforward approach; very good people to deal with.

PolicyBee gave me an unbeatable quote online. The process was so easy and I was insured within minutes.

Feefo Feedback
More customer feedback feefo-slide-right

Prefer to talk?

No problem – we'll call you.

Kerri-Ann Hockley - our directors' insurance expert

I'm Kerri-Ann,
our directors' insurance expert.

Got a question? Need a quote? Call me on
0845 872 5073, or click
'Call me back'.