Specialist underwriting agency DUAL Corporate Risks has launched a new standalone product for Public Offering of Securities Insurance (POSI).
The product covers directors, officers and other assureds from claims arising out of any listing documentation relating to a Public Offering, with Limits of Indemnity up to £10m. Capacity is being provided by Arch and Hiscox in line with the company’s other primary D&O and financial lines products.
With the recovery of the financial markets and the associated increase in the number of listings for 2011, DUAL expects this to be a significant and popular product. The product is available to UK & Irish listings only.
Jennifer Martin, Underwriting Director (Financial Lines) at DUAL, said: “This is yet another development in our overall proposition for our clients and brokers. We are confident this product will be welcomed in view of our exceptional service levels and positive approach to underwriting.”
The product complements the company’s D&O Executive product as they are often purchased in tandem enabling the Insured to benefit from two separate towers of indemnity. DUAL’s management liability insurance products now consist of D&O, POSI, Charity Trustees and PTL, Crime and EPL insurances.
Source : DUAL Press Release
