According to the positions, the Directors and the officers of the company are endorsed with different duties and responsibilities. These are usually laid down in a job description or terms of reference. Therefore they can be held responsible for:
Negligence on the part of their duties
Health and safety measures
Maintenance of satisfactory accounts
Maintain safety in data protection
Control fraud
When the directors or the officers unknowingly have done something beyond their jurisdiction and there has been acclaim against it, the same is paid under the directors’ and officers’ insurance policy. However if it is found that the act was deliberate, then the same will not be covered under the insurance.
