Protection for your key employees
Due to turbulent economic conditions, corporate directors and officers face unprecedented liability risks, along with the growing threat of litigation and investigation. The consequences can be enormous.
Our product is designed for established, stable companies based in the UK that have an annual turnover of up to £200 million.
- Private limited companies
- Limited liability partnerships
- Not-for-profit Organisations
- Clubs and Social Organisations
- Residents Associations
Our Executive Risk Solutions offering provides protection for directors, officers, administrators, supervisors, managers and employees for actual or alleged wrongful acts resulting against them for breach of duty, neglect, misstatements, errors and omissions and the day to day decisions and actions taken whilst acting in the scope of their managerial duties. It protects the personal and professional liabilities for individuals and the company.
Key product benefits
We’ve got all the covers you’d expect but the following is where our Executive Risk Solutions cover really excels:
- Each of the five sections in the policy; Directors’ and Officers’ Liability, Corporate Liability, Entity Employment Practice Liability, Pension Trustees Liability and Crime, are written on an 'any one claim' or ‘any one loss’ basis.
- We will pay ‘Mitigation costs’ to full policy limit for a covered claim against insured persons and or the insured company/organisation.
- Our 'Social engineering' clause will pay up to £250,000 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.
- Our 'Data protection breach' clause, which includes 'GDPR' rules; covers not only damages, defence and investigation costs but also extends to cover civil, administrative or regulatory penalties up to a limit of £250,000.
- Our ‘T.U.P.E.’ clause protects the insured company in respect of any employment claim for any actual or alleged violation of the rights of employees up to a limit of £250,000.
- Our ‘First EPL excess waiver’ clause affords the insured company/organisation the comfort of not having to pay the excess stated in the schedule on the first claim or employment claim paid under the EPL section.