Why you need to be talking about Directors & Officers Insurance and Employment Practices Liability Cover Now! - A webinar aimed at Financial advisors and PFS members in general.
The webinar is aimed at financial services professionals who may be wondering what these insurances cover and whether they should be buying them.
The webinar will briefly explain the history of D&O and how the D&O market place is changing dramatically due to the Covid-19 lockdown and its effect on the economy. The sad fact is that many businesses will struggle badly over the next few month and lots of redundancies will have to be made. This will result in a sharp spike in both Directors and Officers and Employment Liability Practices claims. The market will harden and that is why it is essential Financial Services companies have conversations with their brokers now. It should also be noted that many more directors are being sued individually and also that the amount of HSE prosecutions have trebled against individual directors since 2015.
This is no longer a cover that ANY director can ignore, and ironically if a director refuses D&O without consulting their fellow directors they have massively increased their own personal D&O exposure!
There will be more D&O claims arise against directors due to the recent Covid-19 outbreak – the webinar will explore the new sources of potential claims. EPL claims will probably see record levels by the end of this year again we will explore why this is likely and why cover needs to be in place now.
By the end of this event delegates will:
- Understand the benefits of a D&O and EPL policy and why it should be purchased now
- Be aware of a director’s duties at common law and statute and explore how there will be a significant rise in claims
- Be able to explain in plain English how the principal areas of cover operate.
- Be able to explain the impact of Limits of Liability, costs and awards on a claims made wording
This webinar will be presented by Alan Chandler. Alan is well known to our institute having delivered a number of recent webinars for us as well the current online certificate and diploma revision programme for our members.