Aspen Insurance (UK) Limited
Aspen Insurance (UK) Limited
30 Fenchurch Street London
EC3M 3BD UK locations:
Birmingham, Bristol, Glasgow, London.
BVCAIS and Aspen Insurance (UK) Limited offer 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 can extend to non-UK positions.
n Cover provided for executive and non-executive positions.
n All industry and board types considered, including public companies.
n Cover provided for non-UK directorships. n Competitive premiums starting from the equivalent of £25 per month*.
Our view is that throughout the membership of the BVCA there are numerous individuals who sit on numerous boards and until 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.
Nigel Brand BVCA Relationship Manager
nigel.brand@
aspeninsurance.co.uk
This policy provides the individual with their own distinct limit of liability (currently the facility offers up to £5m of cover) and will provide for 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%. (Access code BVCA–AO16)
Coverage highlights include:
n Limits of liability up to £5m (and over £5m on a bespoke basis).
For more information Personal Liability Insurance please contact Nathan Sewell at
nsewell@bvca.co.uk or on 020 7420 1851.
n Cover provided for executive and non-executive positions.
n Nil excess (other than for the USA). n No limit on the number 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 the equivalent of £25 per 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
Aspen are a diversified, well-capitalised and strongly rated company that provides carefully tailored underwriting solutions in select high value-added markets. We offer a wide range of market-leading insurance products from our UK offices. Whether in property, casualty, financial and professional lines or marine, aviation and transport, we provide flexible products backed by many years of underwriting experience and the highest levels of service. More information can be found at
www.aspen-insurance.com.
Aspen operate in the UK through our FSA regulated company Aspen Insurance UK Limited which is based in London and has branches in Dublin, Paris, Cologne, Zurich, Singapore, Canada and Australia; and US Managing General Agency, Aspen Re America. In addition, we operate through our Syndicate 4711 at Lloyd’s of London, managed by Aspen Managing Agency Limited.
64 Insurance Providers
Risk and Insurance in Private Equity and M&A 2012/13
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