| SMEs Snapping Up Directors and Officers Cover |
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| Written by admin | |
| Friday, 02 February 2007 | |
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The proportion of SMEs buying directors’ and officers’ (D&O) policies has almost  SMEs Snapping Up Directors and Officers Cover The report states that the sector has seen an overall percentage rise in cover purchases from 19.8% to 58% since 2001. It also highlights some of the recurrent issues faced in the SME boardroom, including actions leading to disqualification, losses out of actions against companies and actions against an estate or a retired director. <\br> “These statistics underline what we are hearing from our insureds,” says David Woolard, UK corporate account manager, financial lines at AIG. “While there has been a great deal of attention paid to the risks facing quoted companies in terms of shareholder actions, the directors and management of SMEs face a range of issues for which they need comprehensive and robust coverage. They need coverage that is broad enough to encompass the existing and emerging risks that they face and that has both the financial security and expert support that they need if action is taken against them.” |
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| Last Updated ( Friday, 02 February 2007 ) |
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