Directors and Officers Liability

  1. Immediately notify AIB as soon as you become aware of an incident or an allegation of a wrongful act.
  2. Immediately submit to AIB any letter or notice of claim from a third party or through their solicitors any writ, summons, proceedings, pending prosecution or inquest. Unless approved by Insurers (due to court imposed deadline), documents should be forwarded unanswered.
  3. Insurers will appoint legal counsel to take the appropriate action and to liaise with the Insured to gather evidence and defend the matter.
  4. Ensure that deadlines identified in legal correspondence is adhered to.

TIP: It is important that liability is not admitted. Do not make any offer, compromise, promise, payment or settlement without written consent of the Insurer.