Companies are under more pressure than ever, and this is coming from all fronts. Clients demanding increasing levels of service while competition keeps prices low. Regulators more active than ever. Technology enabling growth and productivity but threatening with disruption or leaving the company vulnerable to Cyber attacks from every corner of the world. And Employees who fight to protect their rights.
In this context, insurance plays an increasingly important role, particularly as it becomes an additional Risk Management tool that helps companies reduce their exposures.
At BELUGA we have designed a series of products to cover the different areas of financial liabilities companies face.
There has been a dramatic increase in the frequency and the severity of claims experienced against directors, officers and companies in the last 10 years. As a result, Management Liability Insurance has become a must , irrespective of size, ownership structure or sector of activity.
Most policies have been designed for large multinational corporations and then adapted for smaller companies. And they all miss a key element. In small and medium companies, ownership and management of the company are not always separated. So whether something is paid by the company or its managers or directors, the funds come out of the same ultimate pocket.
At Beluga we have taken the concept of Directors & Officers Liability one step further by designing a policy specifically for small and middle size companies and including cover for the Company for an extended number of exposures.
Through the BELUGA PANEL OF EXPERTS our policies also give access to a range of experts that can provide advice on how to avoid/minimize a claim, can help defend it if it materializes and can help recover after it.