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ACE Online Directors & Officers Liability

Directors and officers nowadays face the significant risk of civil or criminal action, arising from an environment with increased shareholder activism and tougher punishment for non compliance. This personal exposure to risk is addressed by our D&O cover that is far reaching and includes broad definitions of wrongful act, loss and claim.

Our online product offers the same wide cover as our fully underwritten Elite D&O policy wording and will cater for private limited companies with up to £250 million turnover and/or assets.

Product Highlights:

  • Swift access to quote, amend and bind
  • Focus on a rapid referral response time
  • Access to one of the most experienced D&O underwriting team in the UK
  • Quick response to all queries

Cover:

  • Full Elite D&O policy wording
  • Can be extended to include the company itself – by endorsement
  • Flexible limits from £100,000 up to £10 million
  • Private limited companies with up to £250 million turnover and/or assets.

 

Documents

Document Name Size Date
ACE Online D-and-O.pdf 56 KB 06/01/2011
ACE Online D-and-O - Reasons to Buy.pdf 71 KB 06/01/2011

Case Studies

To help you talk to your clients about the need for and benefits of D&O cover, here are some real examples of incidents from recent years:

Allegations of fraud
A company claimed up to £130m over the acquisition of a construction business, alleging that the financial position of the construction business had been fraudulently misrepresented by the directors prior to its sale. Defendants with ACE D&O may have been in a position to have claimed recovery of the defence costs involved in the proceedings.

Health & safety infringements
A construction company director was fined for safety breaches after an employee was killed in a site accident on the company premises. The director pleaded guilty to failing to ensure the safety of a person working for him and was fined £12,500. Although the fine would not have been covered, the cost to defend the director may have been.

International prosecution
Three UK executives appeared in court charged with operating a worldwide price-fixing cartel. The three, who were arrested in the US, appeared at the City of London Magistrates’ Court. Defendants with ACE D&O cover may have been in a position to have claimed recovery of the defence costs involved in the proceedings.

The examples of claims or situations on this site do not imply that similar circumstances would constitute a valid claim. Each claim is reviewed individually in accordance with the specific policy wording.