Multiline property and casualty insurer Ace Group has introduced new directors & officers (D&O) insurance product for charities and not-for-profit organizations in the UK & Ireland.
The new Ace Elite Not For Profit cover provides separate limit of indemnity for individual trustees, organisation and employment practice liability.
It also offers policy limit pre-investigation and investigation cover for individuals, as well as cover for insured person liability with a maximum of £10m limit and organizational legal liability with a maximum of £5m limit.
Ace Elite Not For Profit also provides organization employment practices liability with a maximum of £5m limit, employee dishonesty with £50k limit, as well as kidnap and ransom with £25k limit.
In addition, the cover offers access to legal advice from law firm Gateley through helpline, providing independent and confidential guidance from specialist solicitors on employment practice and D&O matters.
Ace directors and officers manager Simon Million said: "As we have seen in the news recently, charities and not for profit organisations are particularly vulnerable to claims made against their own management, which can have devastating effects on their reputation and threaten their existence."
The company has also launched Renewable Energy Environmental Protection policy for firms in the renewable energy industry in the UK and Ireland.
The product offers coverage for firms, ranging from the start of construction of renewable energy plants through to their operation.
It is available for energy producers of different renewable sectors, including solar, onshore and offshore wind, tidal, hydro, waste-to-energy, biofuel and landfill gas extraction.
Image: Ace Europe, Middle East and Africa headquarters in London, UK. Photo: courtesy of ACE Group.