Insurance and reinsurance services provider ACE Europe has launched its new Elite IV Entity Extension, an endorsement to its Elite IV Directors & Officers cover.
The company said that the new endorsement provides increased protection to private companies facing heightened exposures as a result of the recently introduced Corporate Manslaughter and Corporate Homicide Act 2007.
The ACE Entity endorsement provides up to GBP1 million protection for the insured company, in addition to that provided to the directors and officers. For many small to medium sized companies this protection is vital in providing better security to the directors, officers and employees who are likely to have a substantial financial interest in the company.
The extended cover includes protection for claims of wrongful acts committed by the company. In addition, cover is also extended to include legal expenses in respect of corporate manslaughter, corporate homicide and health and safety investigations.