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directors officers

DIRECTORS AND OFFICERS LIABILITY INSURANCE

Directors and Officers of a company can be exposed to increased risk of lawsuit due to the impact of the decisions they make, so their company needs to make sure they have the room to make those important decisions. Directors and Officers Liability Insurance protects your executives and covers claims made because of alleged wrongful acts, error or omission.

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OUR CONTRACTS PROVIDE COMPREHENSIVE COVERAGE FROM

Mismanagement

Abuse of Authority

Unfair practices

Misrepresentation

Negligent supervision

Imprudent investment

Insolvent Trading

Conflict of Interest

Contractual disputes

FAQ

Frequently asked questions about this product.

Who is this insurance for?
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This is insurance is for any business. Even though the coverage provided is for directors, their company can be the only contracting party.
Is Directors & Officers Insurance obligatory in Cyprus?
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In Cyprus, professional indemnity insurance is only obligatory for certain professions. There is, however, a large portion of international companies who choose to have this insurance because it is a requirement or a conventional obligation for engaging in a partnership with clients or suppliers.
Doesn’t my professional indemnity insurance offer the same coverage as my D&O insurance?
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No! Professional indemnity insurance only covers errors and omissions when you are performing your duty as a professional. To better understand the difference, let’s consider the example of an active-duty doctor who is also simultaneously a member of the administrative council at the clinic he works in. In case this doctor commits an error during a surgery, then the professional indemnity contract takes effect in case of a lawsuit. If, however, this doctor suggests the purchase of a piece of diagnostic equipment which will cause financial loss to the clinic, then in a potential lawsuit against him by the shareholders it is the D&O contract that will take effect.
How can I restrict the cost of my Directors & Officers insurance?
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The better you describe the breadth of your activities to us, the better we will be able to comprehend any possible dangers arising from them, thus offering you coverage that is more specific and tailored to your particular needs instead of a more generalised and by extension more expensive cover. In certain cases, we might also examine the possibility of adding a sizeable excess amount.
What are the odds that my application will be rejected?
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Our reinsurance agents are committed to examining and evaluating each case separately. We offer insurance coverage to a large number of companies regardless of the nature of their activities, their size, their coverage requests, the number of their branches abroad or the nationality of their directors.
Why are you cheaper than your competitors?
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In our 40-year presence in the Cyprus Insurance Industry, we have managed to create an extensive network of partners from around the globe. Depending on the nature of your activities, we directly forward your application without intermediaries to at least three large reinsurance companies abroad. The reinsurance companies we are in partnership with are in the USA, the UK and the Netherlands
What are the most common activities of your current clients?
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Our biggest clients at the moment are English, Russian, German, Cypriot, Swedish, Ukrainian and Belarussian companies. The breadth of their activities covers technology (IT, mobile apps, Artificial Intelligence, CRM, web developing), economics (finance, holding companies), currency exchange (Forex, binaries, cryptocurrencies), maritime (shipping), advertising and marketing, legal services (trust, alternative funds), real estate services etc.

Ready to talk to us? Interested in visiting?
Contact [email protected] or
call us on 700 70 500