Management liability refresh: supporting your clients through evolving risks

As the risks facing businesses continue to evolve, we've refreshed our Management Liability proposition to help provide broader protection and support for your clients.

A number of enhancements have been introduced (available from 18 October for Digital trading), helping businesses respond to today's management risks and the increasing challenges faced by directors, officers and employers. These include emerging exposures linked to Environmental, Social, and Governance (ESG) scrutiny, employment reforms, regulatory investigations and economic uncertainty.

Our expanded blended Management Liability offering

Our blended Management Liability policy, combines D&O, Employee Dishnonesty and Pension Trustee Liability, designed to respond to both traditional and emerging exposures facing directors, officers and organisations. The policy includes

• Stronger protection for management decisions, including an Any-One-Claim basis as standard across key cover sections
• Increased sub-limits
• Additional protection for ESG-related exposures, including environmental investigation costs cover and ESG-related crisis events cover
• Enhanced employment practices protection, including cover for wrongful social media activity
• Enhanced Directors & Officers (D&O) protection, including unlimited run-off cover for retired individuals
• New Employee Dishonesty cover included as standard, at no additional cost
• New Pension Trustee Liability cover included as standard, at no additional cost
• Access to risk management support and legal resources designed to help clients proactively manage emerging risks

_{Subject to policy terms and conditions.}
 

Corporate Directors & Officers

Alongside the enhancements to our blended Management Liability offering outlined above, we’ve also updated our Corporate Directors & Officers proposition to further strengthen standalone D&O cover for clients.

• Broadened cover for hearing attendance, crisis and reputation costs, ESG-related crisis events, and derivative investigation costs
• New covers added for insolvency hearings, interpretive counsel, regulatory clawback costs, books and records for the company and company crisis costs.
• Pollution, Professional Services and Public Offering of Securities Insurance (POSI) exclusions removed from the base wording

For full details and to help support your conversations with clients, we’ve created two useful documents: one summarising the blended Management Liability refresh and one covering the Corporate Directors & Officers refresh.

These changes are designed to give your clients greater confidence that their cover reflects the challenges facing modern organisations.

If you'd like to talk through the changes or discuss specific clients, please get in touch with your usual Aviva underwriting contact.

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