CNA Europe has announced the launch of its new Directors & Officers Liability product in the UK and Ireland.
CNA said the policy, designed to apply equally to large, publicly listed companies and small to medium sized private businesses alike, is its response to the recently introduced Companies Act.
Chief executive, Julian Enoizi said: “This new product is another step in our strategy to continuously review the needs of our customers and the losses they're exposed to so that we can identify the risks and provide a solution."
John Taylor, CNA's UK commercial financial lines manager, added: “As legislation and the consequential risks of claims against directors and officers continue to evolve it is imperative that we ensure that our policy wordings will address their increasing exposures to personal liability.”
CNA have developed the policy in tandem with a D&O wording specifically aimed at Financial Institutions. Taylor stressed that given the essential differences between most commercial organisations and financial institutions, getting a wording appropriate to the risk was the key to any well structured D&O insurance programme.
