Hiscox is to work with brokers to boost the profile of directors' and officers' (D&O) insurance in a bid to expand its presence in the sector.
Gary Head, director of Hiscox' professions and speciality commercial division, said: "The [D&O] market currently produces £500m in premium and we anticipate that it will increase to £800m by the end of 2008.
"It is a growing market and there are a lot of companies and directors who are not fully aware of their obligations and liabilities."
He said Hiscox would begin work with some of its 250 specialist broking partners across the UK to work "hand in hand" in improving the profile of D&O insurance, and educate the professional sector on the insurance risks that exists.
The division also hopes to achieve further growth in the specialist business line by developing its electronic trading system, which allows clients to buy cover online.
' Hiscox is expanding its UK professional indemnity (PI) account by offering insurance to design consultancies and in-house design teams.
The specialist insurer has teamed up with the Chartered Society of Designers to launch the first worldwide accreditation scheme for the design industry.
The initiative will accredit design businesses that successfully meet key performance indicators, including PI cover, continuing professional development programmes, intellectual property protection, standard practice documentation and a demonstration of creative ability.
