In October AXA XL moved its Euopean arm out of the UK to Ireland
AXA has upgraded its Management Liability product to include Brexit cover.
Claims that result from Brexit will be covered under the policy.
It will include D&O (directors and officers) and company legal liability (CLL). It will also give policyholders free access to legal advice from the firm’s legal partner rradar.
The announcement follows preparations being made as the UK exits the European Union (EU) on 29 March 2019.
This has sparked concerns that claims may increase when the regulatory landscape changes, which will affect the enforcement of existing, new EU or UK legislation in areas such as trading standards, data protection and the environment.
Its head of management liability, Callum Taylor, explained: “Businesses in the UK are increasingly concerned about the regulatory impact of the UK leaving the EU.
“We want to give our customers confidence that AXA is behind them in these uncertain times. We are constantly adapting our policies to meet the new challenges being thrown at UK businesses.”
Other enhancements include personal tax investigation costs to the sum of £25,000 and third-party and telephone fraud cover of up to £10,000.
In October AXA XL moved its European arm out of the UK to Ireland, in preparation for Britain leaving the EU.
And last year AXA revamped its motor trade SME product and its hotels, hospitality and leisure proposition.
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