| Directors' and Officers Liability (D&O) and Employment Practices Liability (EPL) Insurance
About
PYV and why you need cover
D&O covers both legal costs and damages associated
with the defence of a wrongful act committed by directors undertaking
their everyday duties. In addition D&O policies will
pay investigation costs incurred by directors as part of regulatory
investigations and, as a new development, the costs and damages
of directors and/or the company itself associated with EPL claims.
As recognised experts in the broking of specialist
liabilities, we have been working closely with a variety of insurers
to make the availability of this valuable cover both simple and
affordable. As a result, we are now in a position to arrange D&O
and/or full EPL based on a short-form proposal with a fast turn-around
(subject to receipt of satisfactory information) and at premium
levels as low as £400 (provided your firm meets key insurer
criteria). Limits of indemnity of £250,000, £500,000
and £1,000,000 are readily available, with higher limits catered
for on request. In most cases, policy excesses are nil.
Since the publication of the Cadbury Report the
onus of responsibility faced by the directors and officers of companies
has never been greater or more publicised. The report highlighted,
in great detail, the duties and consequences faced by senior people
when making or carrying out key (or even every day) decisions. As
directors and officers, their personal liability is unlimited and
extends to their estate on death.
Corporate legislation that must be adhered to is
both extensive and complex. The directors and officers of companies
are expected to be familiar with all aspects of the Companies and
Insolvency Acts and operate within their boundaries. Failure to
appreciate the importance and consequences of such legislation could
put the individual's own personal assets at risk.
Such legal actions are potentially lengthy and
costly. They may be brought against directors and officers from
many sources such as shareholders, investors, insolvency practitioners
and creditors. For those directors and officers (including,
in most cases, Approved Persons) of companies regulated by the Financial
Services Authority there is the added threat of costly investigations
and, possibly, legal actions being brought by the regulator itself.
The number and size of EPL claims, such as discrimination
and harassment in the workplace, have been increasing for many years
due to ever-expanding legislation and awareness. The cost of defending
such claims can prove damaging to companies and their directors
and officers, no matter what their size.
So, if you are not insured can you really afford
not to be? ..... And, if you are already insured elsewhere, we can
probably save you money.
We look very much to hearing from you.
|
|
 |
For more information contact - |
| |
If you require any further clarification or would
like to speak to one of our Insurance Specialists please do so by contacting us via:
Telephone: 020 7626 6789 |
| |
Fax: 0870 383 5080 |
| |
Email: |
|
| |
- Contact Us -
- Our People -
|
| Click
below for our short-form D&O/EPL proposal form for completion
and return to us. Once received, we will undertake
to confirm as soon as possible what terms are available |
.
|
Professions Division
PYV
No. 10 St. Mary at Hill
London EC3R 8EE
Tel: 020 7626 6789
Fax: 0870 383 5080 |
NB: This form may not be suitable if you
are already a client of PYV. If you already arrange your D&O with
PYV Limited, we will be writing to you regarding your renewal closer
to the date. Please contact Jo Tang on the above telephone number if you
require a renewal proposal form immediately.
|
|
