In theory at least, directors' and officers' liability cover should be considered an essential purchase by most small business owners. Directors and other personnel who make decisions on behalf of a business could face unlimited personal liability if they fall foul of their fiduciary duties and end up being pursued by consumers, suppliers, employees, fellow directors or the company itself.
So, what is holding back sales at this end of the market? The consensus view from all corners of the industry is that it all largely boils down to those three words - education, education, education.
This article studies how brokers and insurers can educate SMEs on the benefits of obtaining adequate D&O cover by highlighting the risks SMEs face and the modest costs of safeguarding against them.