Professional Risks Insurance and Risk Management

Sometimes known as errors and omissions cover, PI insurance is a form of liability insurance that provides suitable protection for those individuals and entities that offer a service or advice to clients. The policy provides financial protection for the legal consequences of any breach of professional duty as a result of any errors or omissions that may inadvertently be made. In addition, it provides coverage for the associated legal costs and expenses in defending against such a claim.

The primary purpose of D&O insurance is to cover the personal liability of directors, officers and managers from claims which may arise from the decisions and actions taken within the scope of their duties. Having such coverage in place provides not only the necessary protection for the individuals concerned, but has the added benefit of allowing the directors 'room' to make the right decisions. D&O insurance supports good corporate governance by making the risks of these decisions both manageable and transparent.

This bespoke policy's purpose is to protect directors, officers and the company against risk associated with an initial public offering and the representation made in the prospectus document. The policy is designed to ring fence these exposures and keep them separate from a company's annual D&O policy.

This is perhaps the most rapidly developing area of risk faced by businesses around the world. A bespoke crime insurance policy will protect a business from employee fraud and dishonesty together with losses emanating from (but not limited to) social engineering, fake president fraud and supply chain fraud. These are criminal acts and therefore not covered by a cyber policy.

Traditional insurance policies do not properly cover the cyber-related risks we face in an increasingly connected world — as a result the UK insurance market has developed a number of specialist cyber insurance offerings.

EPL insurance provides cover against claims made by employees alleging discrimination, unfair or constructive dismissal, harassment and other employment-related issues.

As well as the more traditional D&O policies, we can provide a combined policy of Management Liability covers, which expands upon these policies and provides a number of additional covers.

Tax Indemnity insurance is a specialist product designed to mitigate potential tax liabilities that become due following a business sale, restructure or at the end of life of funds and investment structures.

A W&I insurance policy — arranged by either the buying or selling party to a transaction — helps get the deal across the line by covering the warranties laid out in the sale and purchase agreement.