In August 2010, the Association of Investment Companies (AIC) published an updated guide for directors of investing companies on procuring directors' and officers' insurance (D&O cover). Whilst there is no legal requirement in the UK for D&O cover to be obtained, it is best practice for listed companies to obtain such cover (see paragraph A.1.3 of the UK Corporate Governance Code). The guide aims to provide investment company boards with practical guidance to help them obtain a policy that best reflects their requirements.

View AIC guide on directors' and officers' insurance (32 page pdf).