Personal D&O Liability Insurance
Cover provided for executive and non-executive positions
All industry and board types considered (including public companies)
Cover provided for non- UK directorships
Competitive premiums starting from an equivalent
of £25/month*
BVCAIS and Aspen Insurance (UK) Limited have launched an innovative Personal Liability Insurance to protect individual executive and non-executive board positions.
The policy protects the personal liability of an individual who sits on the board of one or more entities and can cover directors, trustees, company officers and other managerial positions. Cover is available on a worldwide basis and will extend to non-UK positions.
Our view is that throughout the membership of the BVCA there are numerous individuals who sit on a number of boards and before now there hasn’t been a solution that sits squarely behind the individual regardless of whether or not they have exhausted other avenues of indemnity, such as D&O insurance that the company may hold or indemnity offered out of company resources.
This policy provides the insured with their own distinct limit of liability (currently the facility offers up to £5m of cover) and will provide both advancement of defence costs and representation expenses. The policy is fully portable and new positions can be added at any time.
This highly flexible coverage can also be used for special circumstances such as administrator or liquidator appointed directors, special purpose vehicles and similar.
The BVCA Individual D&O product is available to members and non-members with a membership discount of 10% quoting access code BVCA–A016.
BVCA Insurance Services was established by the BVCA to deliver insurance purchasing benefits to members and their 5,000 investee companies. The combined buying power of the BVCA community (estimated to be in excess of £1Bn per annum on insurance premium) has been leveraged to negotiate agreements with global insurers.
Coverage highlights include:
n Limits of liability up to £5m (and over £5m on a bespoke basis)
n Cover provided for executive and non-executive positions
n Nil excess n No limit on the number of positions covered per policy
n Cover provided for non-UK directorships n All industry and board types considered (including public companies)
n Competitive premiums starting from an equivalent of £25/month*
n Positions covered can be changed at any during the policy lifecycle
n Cover includes loss of documents and emergency costs & expenses
n “A” rated security (A.M. Best / S&P).
*Example premium for a BVCA member sitting on a UK Board with a £500k limit.
For more information please contact Nathan Sewell at
nsewell@bvca.co.uk or on 020 7420 1851.
BVCA Insurance Services Brettenham House, Lancaster Place, London WC2E 7EN.
BVCA Insurance Services is authorised and regulated by the Financial Services Authority.
This highly flexible coverage can also be used for special circumstances such as administrator or liquidator appointed directors, special purpose vehicles and similar.
22 BVCA Risk and Insurance in Private Equity and M&A 2012/13
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