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Directors & Officers Insurance

Steph Selby heads up our dedicated Property Team that specialise in whatever you need from residential flats Insurance, her team can provide bespoke solutions for your insurance needs incorporating expert advice to manage and reduce risk and ultimately cost.

What is Directors and Officers Insurance, and do I need this cover?
By acting in the capacity of company secretary or director for a residents or management company of a block of flats, you are personally liable for any breach of duties. These include failure to maintain the property and breach of statutory duties such as health and safety law, breach of trust, neglect and error and therefore your own personal wealth is at risk.

Policy cover included

  • The costs of defending claims made against you
  • The costs of defending any employment related claims
  • The costs incurred in defending you at a first-tier tribunal at which you are named as a respondent
  • Costs incurred in representing you in court if charged with offences such as corporate manslaughter
  • Reasonable costs for attending an investigation which you are legally obliged to attend

Claim examples

  • A management committee was held personally liable for failure to appoint a responsible builder to re-roof their large block of flats. The firm concerned failed to complete the job in a satisfactory way and they went into liquidation shortly afterwards. The work was so poor that most of it had to be done again at an additional cost.
  • Residents of an apartment building brought a claim against the trustees of their residents’ association, alleging that they had misused funds collected from the residents. The residents claimed this meant they had to pay additional money to the association.

Reasons for buying Directors and Officers Insurance

  • Your personal wealth/assets are at risk
  • Legal action can be very expensive
  • Compliance with regulations and laws
  • Not covered under any other policy
  • The cover is affordable
  • Peace of mind
  • A fellow leaseholder could sue you

As with all our clients, our relationships with homeowners and landlords are founded on personal service and direct accountability – we remain completely independent of our insurers and act only in your best interests.

For more details about our Blocks Of Flats Cover call Steph and the team today on 0845 456 6792 or email stephanie.selby@aoig.co.uk

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