Product launched to protect against Corporate Manslaughter Act
Ace has launched a new product in response to the recent Corporate Manslaughter Act.
The Elite IV Entity Extension is an addition to the insurer’s current directors’ and officers’ (D&O) cover and will provide increased protection to private companies now facing heightened exposures as a result of the recent bill.
The Entity endorsement provides up to £1m protection for the insured company, in addition to that provided by D&O cover.
A spokesman said: “For many small to medium sized companies this protection is vital in providing better security to the directors, officers and employees who are likely to have a substantial financial interest in the company.”
The extended cover includes protection for claims of wrongful acts committed by the company.
The product also includes legal expenses in respect of corporate manslaughter, corporate homicide and health and safety investigations.
Dan Holloway, Ace’s UK D&O product manager, said: “The Act makes it easier to bring lawsuits against organisations.”
