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Main Cover changes for the 2018/19 indemnity year

Main Cover changes for the 2018/19 indemnity year

2018-10-18T09:16:35+00:0031st July 2018|Tags: , , , , |
Members with Property Damage Cover
  • Introduction of an Inadvertent Omission To Cover Provision limit £5m

Members with Terrorism Cover

Note: Terrorism Cover Only Members will also receive the benefit of the following rather than the limits following the underlying PD/BI cover provided by their Insurer.

Business Interruption Extensions:

  • Increased limit under the Prevention of Access Extension for both Damage and Non Damage cover of £2.5m (£1m if involving nuclear, chemical, radiological or biological contamination) previously £0.25m

  • Increased limit under the Loss of Attraction Extension of £1.5m previously £0.25m

  • Introduction of the Brand Rehabilitation Extension limit £1.5m

Members with Governors’ Directors’ and Officers’ Liability Cover
  • Inclusion of “Severability” clause to the GD&O Section to ensure that each Person Covered has cover for their own individual interest

  • Clarification that the offering of debt securities or private Stock Offerings are covered by the GD&O Section

Members with Travel Cover
  • Improvements to Travel cover to provide limited “holiday” cover at the end or as part of a placement or trip. At the discretion of the Member, holiday cover of 7 days plus 2 additional days for each full 4 weeks of business travel can be allowed as part of a Covered Journey

  • Moving to a single provider for Emergency Medical and Travel response services. Global Response will provide a single point of contact for all emergency assistance during a journey, replacing the separate services currently provided by Intana Global and Control Risks

Members with Public Liability Cover
  • Additional Excess Public Liability limit of £50m now available, enabling us to offer a total limit of £100m for this cover

  • Application of CAA maximum altitude limit for UAVs (drones) of 121.9 metres from ground level (400 feet)

  • Where the UAV (drone) weighs more than 250g, the operator has obtained mandatory registration and can demonstrate operator competency

For further information contact:

Derek Mason, Member Relationships