Company directors are increasingly seeking specialist protection from the insurance market in a bid to shield themselves and their organisations from growing regulatory and reputational risks, according to Marsh.
The risk advisory and insurance broking group said that to provide clients with more comprehensive insurance protection for their board members it has launched Marsh Delta D&O, a directors’ and officers’ (D&O) liability insurance product created by Marsh in conjunction with eight market-leading insurers,
It said that Marsh Delta D&O offers clients a choice of D&O insurance products which feature over 100 enhancements on most standard policy wordings. Cover is provided on an ‘each single claim’ basis, rather than an aggregate limit. This means that the total insured limit is available for each new unrelated claim made during the policy period, thus helping to significantly reduce the uncertainty and potential additional financial outlay usually associated with ‘limit exhaustion’.
“Today, directors are making management decisions in the context of a challenging economic climate, evolving regulation and heightened regulatory scrutiny,” said Leslie Kurshan, a senior vice president (SVP) in the financial and professional practice at Marsh.
“Many are increasingly worried that decisions made today, based on current information, could be attacked later with the benefit of hindsight. For directors, this means the potential for civil, regulatory and criminal liability.
“Marsh Delta provides our clients and their directors and officers with the enhanced insurance protection they require to manage their businesses confidently in these challenging times.”
Marsh Delta D&O is being offered to private, private equity-owned and publicly traded UK and international businesses sitting outside the FTSE 100 or geographical equivalent, including those that have level one American Depository Receipt (ADR) programmes. It is not available for companies domiciled in the US, directly listed on US exchanges or those that have level two or three ADR programmes.
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