Our policy is aimed at companies that are going through an offering of securities, whether this is a private or an initial public offering. As well as cover for the directors and officers of the company, the policy also covers any error or omission in an offering, the selling and controlling shareholders, and the reputation as well as brand. the insurance is set up to provide cover for the duration of the transaction’s exposures, so the policy term can be up to six years. Some of the features are listed below:
Cover for Everyone Involved in the Transaction
This policy caters for the wide range of parties involved within a transaction including past, present and future directors, non-executive directors, selling shareholders, and the company underwriters to the extent that they need to be indemnified.
Ring-Fenced Cover for Non-Executive Directors
We offer an additional 10% of the limit of liability to ensure that nonexecutive directors have cover in place, even if the main policy limits are eroded by a large offering of securities liability claim.
Wide Definition of Offering
We ensure that any statements or representations made in disclosure documents relating to the offering are covered, including any roadshow presentation.
Reputation and Brand Protection
We will look to pay costs and expenses of up to a specified sub-limit for the services of a public relations consultancy to mitigate damage to reputation and brand following a cancellation or postponement of a public offering.
Cover for the Duration of the Transaction
This policy can be purchased and tailored for the individual transaction with cover lasting as long as the exposure, or up to six years.
We will pay costs and expenses of up to a specified sub-limit for measures taken to mitigate a claim or potential claim.
Pre-Approved Emergency Costs and Expenses
To make sure the company's reputation and brand are not undermined by a delay in responding to a claim, our policy provides pre-approved emergency costs and expenses up to the policy limit for up to 14 days.