Beluga‘s Management Liability Insurance –
Traditionally new Financial Lines products for SME companies were adaptations from policies created for multinational stock listed companies. Now for the first time, Beluga brings a new solution to the Belgian and Luxembourg Corporate Insurance market that is built from ground up, keeping in mind the specific needs of local privately-owned entities.
Based on claims experience and international product development expertise, we have created a D&O policy with the broadest coverage available for SME’s. The product is driven by an aim for simplicity and readability, without unnecessary clauses & definitions or hidden exclusions.
New D&O covers are made available for the first time in this market: founders’ liability, a broad inclusion of specific employees, personal mandates in non-profit entities, full coverage for directors-legal entities, etcetera.
And truly new to the Belgo-Luxembourg market is the optional Corporate Legal Liability coverage section. It provides defence costs and often full indemnity coverage to the company for a number of exposures that until now were often left uninsured. In addition, directors & officers are regularly co-defendant with the company. Under traditional D&O policies, the pre-determined allocation of defence costs excludes most of these aspects.
Coverage extensions range from people related issues (discrimination, wrongful termination, pension plans…) to bodily injury/property damage related defence coverage (pollution…) and other pure financial losses not necessarily covered elsewhere (employee theft liability, competition law, intellectual property rights, identity fraud, etc… And finally, there are also cost covers that go beyond claims, such us Investigation Costs, Reputational and Social Media Crisis Costs and Court Attendance Costs.
A key feature that Beluga incorporates to all its products is an assistance component through the Beluga Panel of Experts. In providing access to specialist legal and consulting firms, we aim to support our clients in their Risk Management in three differentiated ways: sharing of technical know-how, pre-loss telephonic advice and an accessible panel of defence counsel.
All of this makes our Beluga Management Liability Insurance a unique proposition to the market.
For a full overview of all the extensions, please see our Product Summary available on www.belugainsurance.com or contact us directly.
Beluga Insurance Solutions nv is a newly created Financial Lines underwriting agency with a specific focus on SMEs and self-employed professionals. It aims at bringing innovation and client-centric solutions to its target markets, through its international experience and capacity. It thus differentiates in combining the technical know-how from the international Financial Lines specialist carriers with the operational and marketing knowledge of the local generalist carriers. Through its state-of-the-art online platform, it makes all its products available in a cost-efficient and client-friendly way.