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Hi, welcome to Just Answer. I will help you with your question.
Your household insurance isn't likely to cover it- as this is for you as individuals, not the company.
There can be no claim by third parties against you as directors for not obtaining insurance.
Can you explain in more detail why there would not be a claim against the directors
No claim against the directors because the directors do not owe duties to external third parties. They owe their only duties to the company.
If you think about it, you can't sue any director of any other company because they don't obtain insurance.
Yes I see. Thank you. Is there any way then that this person could sue/claim for damages from us as 'ultimate ' owners/ individuals or are we protected by virtue of being a company with limited liability
No, you're protected by it being a limited company - thats the whole idea of having a limited company.
Brilliant. Therefore I take it then that we can not be forced to maintain these trees either (but we currently do) and if we do nothing/ or in his view do insufficient maintenance and damage is caused he should claim on his own house insurance?
He might claim against the company due to its failures to maintain. The members of the company might seek to remove you as directors for not taking action that would prevent claims to it.
But you could as you suggest too.
The company has no money, being made up of five households who are all directors....so....also being limited there is no money to be had.
OKay, well, if that's the case, then so be it!
The co has no money and the members are five households who are all directors .....so.....also it is not our wish to be antagonistic with him. Thank you for the clarification.
Can you also clarify that my name and or email address is not visible to any one else who may view this site and my queries? ty
You're welcome. Is there anything more that I can assist with tonight?
Your name and email address is not visible.
Please do remember to rate my answer, and if you need more general information in the future, do just let me know, and I'd be more that happy to try and answer your questions.
Is this okay?
Yes- I wasn't sure if you'd replied!Thank you I will
Thanks! Have a great evening.