Category: Directors & Officers
The Difference Between ‘Joint Names’ and ‘Composite Insured’ Construction Insurance
The Difference Between ‘Joint Names’ and ‘Composite Insured’ Construction Insurance Most people in the construction industry will know that contract works are usually determined by standard form contracts called JCTs (or Joint Contracts Tribunal contracts) which outline the responsibilities and obligations of all parties involved in the project i.e., the employer, contractors, and any subcontractors.…
Read more
How Your Business Can Reduce Their Motoring Costs
How Your Business Can Reduce Their Motoring Costs Rising motoring costs are a concern for all businesses that have a motor fleet. If you run a fleet of vehicles as part of your business, you’ll be keeping a close eye on balancing the cost of keeping your fleet on the road with the difficulties of…
Read more
Why all businesses require Directors and Officers insurance
Why all businesses require Directors and Officers insurance Directors and Officers liability insurance (D&O insurance) provides financial support and defence against potential investigations into the behaviour of your executives and the possibility of them being sued. Without such insurance, the company will be left to pick up the tab from their own resources. Or,…
Read more
How Does Cyber Insurance Work and What Does it Cover?
How does cyber insurance work and what does it cover? How does cyber insurance work? You have a small business that sells leather goods online and you collect customer data including credit card numbers. You are hacked by cybercriminals who steal all this information from 1K of your customers' accounts- making them victims, too! Your…
Read more
Why you Need Cyber Insurance
Why you need cyber insurance... The risks of cyber crime have never been more prevalent, with attacks on businesses increasing each year. Cyber risk insurance is a must for any company that holds personal data or stores business critical information electronically. If your computer system fails due to interference from outside forces, you could lose…
Read more
10 UK Cybercrime Statistics
10 UK Cybercrime statistics Did you know as of October 2022, 39% of UK businesses have experienced a cyber attack, the same as in 2021. However, the figure has dropped since 2020 (46%). “Cyber crime is the greatest threat to every company in the world.” - According to 31% of these businesses, they were attacked…
Read more
Ascend Broking Summer Newsletter 2022
Ascend Broking Summer Newsletter 2022 Welcome to our summer newsletter. This month I would like to raise 2 key exposures to your business – underinsurance and your personal negligence exposure. Underinsurance - why inflation can have a major impact on your insurance A not-so-well understood risk is the impact of inflation on insurance and the…
Read more
Directors & Officers: Motor Trade
Directors & Officers: Motor Trade What is Directors & Officers (D&O) Insurance? Director and Officers Insurance is sometimes known as “Management Liability” and it’s there to protect you financially against any claims made against you personally as a director, partner or officer of your business. From health and safety concerns to a claim for breach…
Read more
5 mega trends to watch in 2022
5 mega trends to watch in 2022 Global economic developments and insolvency exposures 2021 proved to be volatile for businesses and their officers, pummeled by a ‘perfect storm’ of exposures: from the economic downturn to a global pandemic to unstable political developments and an unprecedented warning of insolvencies to come. Markets are expected to remain…
Read more
D&O insurance structure
What is the structure of D&O insurance? The structure of a D&O insurance policy depends on which of three insuring agreements are purchased (ABC policies are generally chosen, as these are standard form policies for publicly listed companies. For private or non-profit companies, only AB policies would be used) [see table]. Directors and officers are…
Read more
