products - Directors & Officers Liability

Company directors’ personal liabilities to shareholders, creditors, customers and regulators are ever increasing, from insolvency risk, operational or managerial mis-statements, occupational health and safety investigations and penalties, the recent UK Bribery Act, or the US Foreign Corrupt Practices Act, through to a general increase in litigation and court awards, coupled with proposed changes to Litigation Funding and contingent fees. From 2005, UK law formally permitted indemnification of a director by the company, but this is neither compulsory, nor does it extend to all situations to which a director may be exposed.

The Syndicate underwrites UK and international Commercial and Financial Institution Directors and Officers Liability (D&O), and the broader Management Liability coverages (D&O, Entity Employment Practices Liability (Entity EPL), Fiduciary, Fidelity, Entity Coverage), Side A only, Excess Side A “Difference In Conditions”, Pension Trustees or Fiduciary Liability, Public Offering of Securities Insurance, and Stand Alone Entity EPL, plus blended products with the other Syndicate lines of business. The Syndicate has proprietary wordings across all product lines, and in addition accepts market wordings where required, to facilitate changes in Insurer with continuity of coverage.

Acceptable risks range from UK and international charities and SME risks, to large US ADR Level III exposed accounts, in all jurisdictions except USA domiciled or incorporated, focusing on the UK, Australia, Canada, the Middle East, Latin America, Italy, Spain and Eastern Europe, where the Syndicate Underwriters also have language capabilities. UK SME risks can be accepted from non-Lloyd’s brokers via the Service Company.