Webinar: Why you need to be talking to your Clients about D&O and EPL Cover now!
Brokers have a small window of opportunity to place Directors and officers and Employment practices Liability covers for those clients that do not have these valuable insurances at present. Capacity is fact disappearing due to the potential recession caused Covid-19 and small firms who have no HR department are highly vulnerable to potential claims on the grounds of both wrongful dismissal and constructive dismissal. Solicitors on daytime TV are encouraging ex employees to sue and this is why no business can ignore EPL cover and no director can ignore D&O cover.
This session 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 months 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 brokers have conversations with their clients 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 - Alan will explore the new sources of potential claims. EPL claims will probably see record levels by the end of this year again Alan will explore why this is likely and why cover needs to be in place now.
By the end of this session, delegates will be able to:
-understand the benefits of a D&O policy and why it should be purchased now
-be aware of a directors 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 main areas of cover operate
-be able to explain the impact of limits of liability, costs and awards on a claims made wording.
Alan has undertaken operational management roles in three major global companies running underwriting, broking and claims functions. In order to fulfil a long-term ambition, he set up his own training company, something that he had always longed to do as he is passionate about training. Since then he has trained over two thousand people to become ACII qualified including six individuals who have achieved the best ACII completion in the whole of the United Kingdom, he has also trained many national prize winners.
Alan has delivered training for almost all the institutes in the UK over the past few years with his enthusiastic presenting style proving very popular. He is one of the few individuals who can teach at all levels of the Cii examinations, he teaches almost all certificate, diploma and advanced diploma subjects and is one of the few people who can take someone from certificate all the way through to fully qualified ACII and his pass rates exceeds 96%. Alan has presented across Europe on many technical subjects to companies including Allianz, Zurich, Aviva, Aon, Marsh Willis, Gallagher, Towergate and GRP. He has been involved in the setting up of many diploma and advanced diploma programmes in both the UK and Ireland and is driven by a passion to see increased professionalism within the insurance industry.
More recently Alan has been at the forefront of the webinar revolution delivering large amounts of content across Europe. A number if his recent pieces of work have been published internationally.
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This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.