Directors' and Officers' liability insurance for residential management firms
If you're running a residential management company you have a number of duties and responsibilities to the lessees and you could be held personally liable if, for whatever reason, you fail to carry them out adequately and cause financial loss.
You may make decisions in good faith, but things can still go wrong and it's important that you protect yourself against any legal action taken against you, since the law will treat you no differently to a director or office of a large commercial enterprise.
At Deacon we offer comprehensive Directors' and Officers' Liability insurance for anyone presently or previously appointed as a director or officer of a residential management firm, as well as their legal heirs, representatives and co-defendants. It is a standalone policy and can be taken out independently of blocks of flats insurance.
Peace of mind
In today's litigious society you need to be prepared for all eventualities. Directors' and Officers' Liability insurance from Deacon will give you complete peace of mind, with wide-ranging cover for breach of duty, trust or contract, as well as neglect, misleading statements, wrongful trading and wrongful acts or omissions.
What if you were to pay for renovations out of the service charge budget and one of your lessees held you responsible for poor workmanship? You'd be protected with our Directors' and Officers' Liability insurance for financial loss.
Perhaps you failed to notice external disrepair to a block of flats and did not rectify the problem, and the value of a lessee's flat has dropped as a result. They could hold you liable, but with liability insurance for officers and directors from Deacon, you won't have to worry.
What's covered?
Our Directors' and Officers' Liability insurance policies cover a wide range of legal costs and damages you could incur as the person in charge of a residential management company.
These include legal defence costs, representation and advice should you be taken to court, as well as claimant costs and expenses, and any damages awarded against you. Out of court settlements are also covered.
Directors' and Officers' Liability insurance does not, however, cover for loss or damage to property, nor does it provide protection for personal injury. These would be covered under other insurance policies - please ask us for more details.
Directors' and Officers' Liability insurance from Deacon
Arranging Directors' and Officers' Liability insurance is easy with Deacon. Simply use our online form to request a quote and we'll be in touch. We will also handle all the administration should you decide to purchase your cover from us, so there will be no paperwork for you to deal with.
If you need blocks of flats insurance or contents insurance, you can also arrange this with us. To find out more call us on 0333 400 8292 or email us at info@deacon.co.uk and we'll be happy to answer your questions.
You may not realise when you take on the role of director or officer at a residential management company that you can become personally liable for the consequences of your actions, no matter how well you do your job. Make sure you're protected.
That's the Deacon difference!
For a summary of cover please see our Directors' & Officers' Fact Sheet.
Directors' and Officers' liability insurance for residential management firms
If you're running a residential management company you have a number of duties and responsibilities to the lessees and you could be held personally liable if, for whatever reason, you fail to carry them out adequately and cause financial loss.
You may make decisions in good faith, but things can still go wrong and it's important that you protect yourself against any legal action taken against you, since the law will treat you no differently to a director or office of a large commercial enterprise.
At Deacon we offer comprehensive Directors' and Officers' Liability insurance for anyone presently or previously appointed as a director or officer of a residential management firm, as well as their legal heirs, representatives and co-defendants. It is a standalone policy and can be taken out independently of blocks of flats insurance.
Peace of mind
In today's litigious society you need to be prepared for all eventualities. Directors' and Officers' Liability insurance from Deacon will give you complete peace of mind, with wide-ranging cover for breach of duty, trust or contract, as well as neglect, misleading statements, wrongful trading and wrongful acts or omissions.
What if you were to pay for renovations out of the service charge budget and one of your lessees held you responsible for poor workmanship? You'd be protected with our Directors' and Officers' Liability insurance for financial loss.
Perhaps you failed to notice external disrepair to a block of flats and did not rectify the problem, and the value of a lessee's flat has dropped as a result. They could hold you liable, but with liability insurance for officers and directors from Deacon, you won't have to worry.
What's covered?
Our Directors' and Officers' Liability insurance policies cover a wide range of legal costs and damages you could incur as the person in charge of a residential management company.
These include legal defence costs, representation and advice should you be taken to court, as well as claimant costs and expenses, and any damages awarded against you. Out of court settlements are also covered.
Directors' and Officers' Liability insurance does not, however, cover for loss or damage to property, nor does it provide protection for personal injury. These would be covered under other insurance policies - please ask us for more details.
Directors' and Officers' Liability insurance from Deacon
Arranging Directors' and Officers' Liability insurance is easy with Deacon. Simply use our online form to request a quote and we'll be in touch. We will also handle all the administration should you decide to purchase your cover from us, so there will be no paperwork for you to deal with.
If you need blocks of flats insurance or contents insurance, you can also arrange this with us. To find out more call us on 0333 400 8292 or email us at info@deacon.co.uk and we'll be happy to answer your questions.
You may not realise when you take on the role of director or officer at a residential management company that you can become personally liable for the consequences of your actions, no matter how well you do your job. Make sure you're protected.
That's the Deacon difference!
For a summary of cover please see our Directors' & Officers' Fact Sheet.