Executive Risk Solutions

In a turbulent economic environment, the threat of litigation or investigation by regulatory bodies can have enormous consequences for directors and officers. 

Our Executive Risks Solutions product can provide cover for your clients’ key employees.

What risks does it cover?

Executive Risk Solutions helps provide financial protection for directors, officers, administrators, supervisors, managers and employees, for actual or alleged wrongful acts relating to breach of duty, neglect, misstatements, errors and omissions, and day-to-day decisions and actions they may have taken within the scope of their managerial duties.

Our product can provide cover for the personal and professional liabilities for individuals and their company.

Our appetite

Executive Risk Solutions is designed for stable and established UK-based organisations with annual turnover up to £250 million.

These include:

• Private limited companies
• Limited liability partnerships
• Partnerships
• Charities
• Not-for-profit organisations
• Clubs and social organisations

• Each of the five sections in the policy are written on an 'any one claim' or ‘any one loss’ basis. The five sections are: directors’ and officers’ liability; corporate liability; employment practices liability; benefit plan liability; and crime
• We will pay mitigation costs to the full policy limit for a covered claim against insured persons and/or the insured company/organisation
• Difference in condition/difference in limit clause for the first policy period with Zurich, restricted to certain markets (applicable to all sections)
• Under the directors’ and officers’ liability section, we provide automatic extended reporting period options (one, three or six years) following a change of control. This also includes appointments of receivers, liquidators or administrators to the insured company
• Our social engineering clause will pay up to £1 million or 50% of the coverage section limit for loss resulting directly from an insured company having, in good faith, transferred money, securities or goods in reliance upon a transfer instruction which proves to have been fraudulently issued by an imposter without the knowledge or consent of the insured person, customer or vendor
• We provide cover for claims brought against directors, officers and senior employees alleging environmental mismanagement, in connection with misrepresenting or failing to disclose information relating to greenhouse gases, or actual or alleged global warming or climate change infringements - up to the full policy limit
• Our data protection breach clause, which includes GDPR rules, covers damages, defence and investigation costs and also extends to cover civil, administrative or regulatory penalties up to the full policy limit
• Our TUPE clause protects the insured company in respect of any employment claim for actual or alleged violation of the rights of employees up to a limit of £250,000
• Our benefit plan liability section provides cover for an employer’s defence and legal expenses, incurred as a result of claims arising from the administration of employee benefit programmes, such as pension plans and healthcare benefits