Management Liability
Management liability is constructed with the Insured Company and the management team benefitting from the cover.
It is designed to meet the needs of UK entities that are private limited companies, LLP’s, Employee Ownership Trusts, Charities and non-profit organisations.
Director and Officers Cover
The typical Insured Company will include Articles of Association that set out whether they provide an indemnity to an individual. The cover responds to whether or not such an indemnity is provided as there are often occasions where the Insured Company is unable to indemnify the individual; either it cannot as it does not have the funds, or there is a particular reason why it will not. The contract still applies in these circumstances and will indemnify the individual directly. Where the Insured Company can indemnify, the Policy then reimburses the Insured Company for their loss.
This indemnity offers protection to the individual, irrespective of whether their employer provides it.
Purchasing this cover should act in two ways:
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Ensuring the directors and officers are personally protected.
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Where the Insured Company has a requirement to indemnify, then the contract will protect the Insured Company’s own balance sheet and ensure financial stability and certainty in the event of a claim.
The cover addresses allegations of a ‘wrongful act’, encompassing the diverse range of responsibilities undertaken by decision-makers on a day-to-day basis
Employment Practice Liability Cover
Provides an indemnity to the Insured Company with respect to any employment-related allegations or actions
The cover is designed to cover legal defence costs and damages resulting from employment issues. Such issues include unfair or constructive dismissal, wrongful selection for redundancy, and discrimination-based allegations. Whilst any unfair dismissal claims are capped, there is no such cap on claims arising from allegations of sex, race, disability, sexual orientation, age, or religious discrimination.
The cover responds to the initial allegation and will support the Insured Company in preparing for any tribunal or similar legal action and will also pay any resultant damages. It should be noted that the contract will not indemnify the Insured Company for any monies which are legally owed to the employee concerned, such as holiday pay.
Corporate Liability
Provides an indemnity to the Insured Company with respect to any legal actions from any third party
This cover also extends to encompass Corporate Manslaughter or Contract Disputes.
Employee Crime
The Policy can be extended to include a Fidelity section that provides coverage where an Insured Company employee steals money, securities, or stocks from the Insured Company
Across the contract, each separate Policy section is provided on a Limit of Indemnity basis, meaning the proposer should consider the limits being purchased, ensuring they secure a limit that meets their needs.
The cover is written on a ‘claims made’ basis, meaning cover will apply only to claims notified during the contractual period.
The Insured Company can consider each cover's limits to meet their needs.
Why Kayzen
Independent
We are not broker owned and therefore not aligned to your competition.
Unified commitment
Fully aligned with our capacity provider and sharing common ownership ensures we are committed to the same goals: stability, profitability, sustainability.
5-year capacity
Commitment from our A- Rated capacity provider ensures long-term stability for a long tail class of business.
Claims excellence
Our experienced Head of Claims manages the entire claims process in-house, elevating Kayzen's service above those relying heavily on outsourcing. This guarantees consistent access to our trusted team throughout the entire contract lifecycle, from the quote/bind stage and beyond.
Transparent coverage
Policy wordings that are clear, concise and transparent. We prioritise your understanding, ensuring you make informed decisions with confidence.
Broker centric
Brokers have their own processes and ways of working. At Kayzen, we operate flexibly dependent on broker requirements.
We listen, analyse and learn. Always adapting. Always evolving. Continuously improving. Kayzen