Dual Corporate Risks, an underwriting agency, has introduced a new standalone product for Public Offering of Securities Insurance (POSI).
According to Dual, the new product covers directors, officers and other assureds from claims arising out of any listing documentation relating to a Public Offering, with Limits of Indemnity up to £10m.
Capacity will be provided by Arch and Hiscox in line with the company’s other primary D&O and financial lines products.
The product is available to UK & Irish listings only. With the expected recovery of the financial markets and the associated increase in the number of listings for 2011, Dual expects this to be a significant and popular product.
With this launch, Dual’s management liability insurance products now consist of D&O, POSI, charity trustees and PTL, crime and EPL insurances.
Dual underwriting director for financial lines Jennifer Martin said that this is yet another development in the overall proposition for clients and brokers.