Leadership positions in an organisation or company consist of individuals who get to draw strategies, calculate risks and other key roles contributing toward setting and successfully achieving goals and objectives.
These roles and decisions bear responsibilities that bring risks to the individuals and the business arising from a third party.
The nature of their roles requires them to make tough and complex decisions that bring positive impact to the organisation or business.
Having the right protection, such as that offered by Takaful Brunei Am Sdn Bhd (TBA), means that one is covered with the cost of compensation claims and any legal expenses incurred in the director’s and officer’s defence against legal actions brought for alleged wrongful acts including breach of trust, duty, negligence, error and omission and misleading statements.
Claims can be brought by anyone; shareholders, customers, competitors or any stakeholders, and senior officials can be held accountable for their actions and inactions.
The Director’s and Officer’s Liability (D&O) Takaful comes in handy when a business or an organisation has limited liquid capital or cash to defend themselves against lawsuits brought by third parties.
The D&O Takaful will compensate for defence costs, damages, investigations, or any related issues with legal proceedings.
The claims however may differ from one party to another which can be based on employment practices by previous employees as well as those arising from regulators and shareholders.
No matter what, senior management and officers needs to be covered with the D&O Takaful to run the business in a comfortable and confident manner.
For more information, interested applicants can give TBA’s Call Centre Quotation & Online Payment Service a call at 2244000, go to any of TBA’s nearest branches or visit www.takafulbrunei.com.bn
This article was first published on 18 June 2022 in our Weekly Epaper issue 198 | More stories here
THE BRUNEIAN | BANDAR SERI BEGAWAN