D&O - Entity Cover

What is it and Why do you need it?
Following on from our previous article on Directors & Officers Insurance, should you also consider adding Entity cover? You may not be aware that sometimes your company rather than you the Director can face an action, such as sex discrimination, harassment or an investigation into corporate manslaughter. In the case of a company being sued, D&O policies covering only the individual directors will not be much use. Your company may have to pay for it’s own defence, damages or settlements. This is particularly relevant as you the Director may have to meet this liability which may result in the cost coming out of your own personal assets.

Is this another unnecessary expense?
We find that extending the cover to include this element rarely increases the overall premium too significantly and it should certainly give you additional peace of mind.

Please contact us at info@huberdixon.com for further details.
0845 430 5430

D&O Cover Why You Should Seriously Consider It

What is D&O cover?
D&O or Directors and Officers Liability to give its' full name provides personal protection for Directors, Officers and Senior Employees for the actions they take on behalf of the company.

Why do you need it?
The increasing burden of legislation and the ever litigious society that we live in can make the running of a company more and more difficult and Directors are increasingly exposed to a range of possible actions against themselves and their assets. If an action is bought against you as a Director then you have to respond to the action personally and this could mean that your personal assets including your house and your car are at risk. You can't rely on your company to support you as they may not be in a position financially to help.

Where's the risk?
Actions against a Director can come from many sources including employees, prospective employees, suppliers, customers, local authorities and following the full implementation of the Companies Act 2006 you are at risk from other directors and shareholders.

Sounds horrific, how much does it cost?
D&O does not have to cost the earth. There are a number of Insurance Companies and Schemes available which means, for now, the cost can be relatively low depending on the size of your company, what industry you are in and how many directors you have.

Please contact us at info@huberdixon.com for full details.
0845 430 5430

Great South Run

Hats of to Rupert Dixon our Managing Director who completed the Great South Run in Portsmouth yesterday and was quoted saying at the finish "bloody hell, that was windy!"

There were a further 12,999 runners taking part in the beautiful sunshine battling the fierce headwinds full on along the seafront. With Army soldiers out in force running for Help for Hero's and many other fun runners opting for fancy dress costumes, one being a huge Paddington Bear! The spectators turned out in force clapping and shouting, lining the whole of the 10 mile route.

Whilst the men's elite race was won by the British runner Mo Farah who just beat South Africa's Scott Mokoka in a sprint finish, clocking 46 minutes and 25 seconds and former marathon world champion, Kenya's Luke Kibet, took third place.

Ines Monteiro claimed the women's race in convincing style, finishing nearly a minute and a half ahead of her Portuguese team-mate Ana Dulce Felix, who recently took third place in the Great North Run.

Rupert completed his run in a brilliant 1hr 35mins...it turned out to take longer getting out of the car park than running the race itself!!!

Rupert was raising money for the Rainbow Centre who are specialists in conductive education helping children with Cerebral Palsy throughout the South of England.

Well done to all those runners raising money for their chosen charities.

COVERED - Insurance Bulletin

October 2009

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Broker EPLI scrutiny advised as workplace tribunal cases soar.....

Making sure your covered - PROTECT YOURSELF
Brokers have been urged to check clients' employment practices liability insurance (EPLI) cover in the face of soaring workplace tension.
Init's annual report for the financial year 2008/09, the Advisory Conciliation and Arbitration Service (Acas) revealed it has received more than 78,000 conciliation cases from the Employment Tribunal Service, almost a fifth (18%) higher than the previous year.
In total, Acas received , 55,000 cases that involved a claim for unfair dismissal, a rise of almost 12,000 from 2007/08.
Gary Green, Angel Underwriting business development director, said the recession would inevitably cause a rise in redundancies and in the haste to make cutbacks, companies were increased danger of failing foul of employment legislation. "In the accident arena we have seen the growth of the 'no win no fee' culture. How long do you think it will be before we see adverts on the television asking people 'whether they believe they have been unfairly terminated' and inviting them to get in touch with solicitors to make a claim?" Mr Green asked.
He said that all the directors' and officers' (D&O) claims it receives, more than half were employment related.
Mr Green said that while D&O covers directors' liabilities in employment-related matters, EPLI was needed to cover the company itself adding the smaller to medium-sized business, which may not have a dedicated HR facility, were at risk.
According to figures from from the Tribunals Service published earlier this year, the number of employment tribunal claims rose sharply to 189,303 in April 2008 to March 2008, an increase of 43% on the 2006/07 figures. The Acas conciliation figures indicated that 20085/09 employment tribunal claims figures, which are due to be published in September or October, would climb further.
Andrew Swan, associate director of Aon Global Professions, said: "Society has become more litigious and employees are more wiling that ever before to take their employers to court if they believe they have been wronged. It is with this in mind that we sell EPLI products." He said while clients may not have budgeted for EPLI for the current year, he would push for it to be considered in 2010 forecast as "it's a growing trend".
Article taken from Insurance Age September 2009 edition - Written by Louise Meeson

Please contact us for more information

0845 430 5430
www.huberdixon.com

Property Owners

Good News At Last For The
Property Industry
We believe that there is finally something for Commercial & Residential Property Owners to get excited about, that is as long as they have the correct broker!

Huber Dixon Insurance Services Ltd have designed a unique Property Owners policy designed specifically for Property Owners.

For Our New Clients
On average, we are able to save our Commercial and Residential Property clients up to 20% on their current portfolio premiums. Our polices include Property Damage, Loss of Rent for perils under the Property Damage section, Employers' Liability, Property Owners Liability, Terrorism and Legal Expenses. In addition there are a number of additional benefits not normally identified within standard policies. Please contact us for more details.

We look to place all properties under one policy with one renewal date. This means as existing properties come off risk throughout the year we can add them to your first original instruction. Then for the following year, the renewal date will then be the same for your whole portfolio.

Please call us on 0845 430 5430 to find out what we can do for you.

For Our Existing Clients
We aren't concerned about moving our client's business to save them money or improve cover. Every year we will search the market comprehensively at your renewal date to ensure that you continue to receive the best possible cover at the lowest possible price.

Don't Just Take Our Word For It - Read What One Of Our Clients Had To Say
"...Huber Dixon have been able to out perform any broker I have previously used, in the key areas of identifying synergies between the various divisions, streamlining of all my policies and removing unnecessary cover and above all in today's world, making significant savings in the process....I now only have to call one company and whatever I ask I know it will be done. I have no hesitation in recommending Huber Dixon, whatever your needs and anyone who doesn't give them a try is wasting an opportunity of saving time, effort and above all money." - KV

Please contact us for more information

0845 430 5430
www.huberdixon.com

Huber Dixon Insurance Services Ltd is an Appointed Representative of TEn Insurance Services Ltd which is authorised and regulated by the Financial Services Authority

Solicitors Professional Indemnity

Safe in the belief you have the correct Insurance & Service

Fact
We have experience of providing insurance solutions to solicitors from sole practitioners through to large international practices.

Sign Of The Times
Insurers are bracing themselves for a possible increase in claims activity across all sectors and especially from legal practices active with the property conveyancing sector.

The Answer
We have access to a panel of insurers who offer flexible cover tailored to your practice and can provide supportive risk management services and dedicated in-house qualified claims experts.
We are here to help and listen to our clients throughout the year.

Contact Us Now
So we can supply you with further information and a proposal form.

info@huberdixon.com
0845 430 5430

Huber Dixon Insurance Services Ltd is an Appointed Representative of TEn Insurance Services Ltd which is authorised and regulated by the Financial Services Authority