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Today, the corporate scenario is packed with wheelers and dealers of all types. Boardroom meetings held by a few decide the fates of thousands of employees and shareholders. Mergers, sell-outs and acquisitions are commonplace news.
A doubt once vested in the human mind never rests until satisfied. Consumers, shareholders and employees of major corporations have started to pursue legal action against bankruptcies and disasters occasioned by mismanagement, fraud, dishonesty and selfishness of the company officers.
Owing to these circumstances, insurance companies have implemented liability insurance schemes for corporate officers. Employees who fulfill a specific function within a company are eligible to be covered under Officer's Liability insurance.
Company lawyers, secretaries, treasurers, liquidators, auditors - all of these can be insured against public liability thanks to Officer's Liability insurance. Officer's Liability insurance policies provide for courtroom defence costs too.
Corporate officers can also insure their office using Office Umbrella insurance policies. All contents of any material value stored and used within the office premises can be insured against major perils and accidents.
The Office Umbrella policy also covers losses initiated by fraud or dishonesty of employees portable computers electronic equipment cell phones and most of the paraphernalia associated with a modern working environment.