The British Insurance Brokers’ Association (BIBA) has appointed Bluefin as the provider of its new members’ scheme for Directors & Officers (D&O) insurance.
The new policy is underwritten by ACE European Group Limited and includes a number of exclusive benefits to BIBA members. BIBA members will use ACE Online, a simple internet-based programme backed up by the ACE Underwriting Centre, to get quotes easily and quickly, bind policies and renew.
Steve Foulsham, Technical Services Manager at BIBA commented: “At a time when the responsibilities for Directors and Officers are increasing, the new scheme will enable members to obtain easy access for quotations and policy issue, backed by the expertise of Bluefin for support where required.”
The policy provides cover for losses resulting from wrongful acts including:
- Damages, judgements, settlements, crisis costs, PR costs, prosecution and defence costs
- Legal representation expenses
- Costs arising out of extradition proceedings
- Tax contributions where the company has become insolvent and personal liability ensues
- Actions between directors of the same company
- Employment-related wrongful acts
- Whistle blowing
- Pollution
- Claims alleging a wrongful act by the company itself
BIBA members will also benefit from:
- Enhanced commission levels
- A fully non-rescindable policy in respect of non-disclosure
- An online quote and bind facility
- Cover for civil fines and penalties payable by the insured person where insurable by law
- Access to specialist underwriters at ACE in respect of referrals and queries
- A relationship manager within Bluefin
Bluefin is already a BIBA scheme provider and run the very successful MotorRiSK BIBA product, which has been running for nearly four years. Welcoming another partnership with BIBA, Laura High, Director Wholesale Distribution at Bluefin, said: “We are really excited to be able to provide BIBA members with access to this product. Having worked with BIBA for several years, we are delighted to strengthen our offering to the members and really look forward to working with them on something new.”
Pat Drinan, Director of Corporate Risks, ACE European Group said: “I am delighted BIBA and Bluefin chose ACE to be their selected D&O partner, demonstrating not only the strength and quality of our product but also endorsing how easy it is to access. We are very pleased to be working with BIBA and Bluefin and the opportunity it provides us to build further on our relationships.”
