Learning how to use our new defibrillator!

This week, Romero’s staff have spent time learning how to use the new defibrillator which will be permanently housed on the outside of our head office in Leeds.

After having recently experienced the devastation that can come from heart-related illness, our staff are keen to prevent others feeling the same loss.

We’ve purchased the defibrillator in conjunction with a couple of other local businesses, as well as some incredible fund-raising by the different teams within Romero.

Why a defibrillator?

Without going too deep into the science, defibrillators administer a shock to try and recover the heart’s regular rhythm. They’re to be used alongside CPR and ‘mouth-to-mouth’ whilst the first-aider waits for the ambulance to arrive.

Put simply, defibrillators can be the difference between life and death. If someone collapses from a cardiac arrest, their chances of dying are significantly increased if a defibrillator isn’t used. In fact, according to the British Heart Foundation, for every minute it takes for a defibrillator to arrive at the patient, their chances of survival reduce by 10%.

Sadly, only 3% of cardiac arrests happen with the recommended retrieval distance of a defibrillator according to the Resuscitation Council.

Romero staff getting used to the equipment

They may be easy to use, but defibrillator training is still a necessity. The first aider needs to know how to apply the shock pads and when to administer the shock.

We’re delighted to say that a large group of Romero staff, spread from all different departments, are now knowledgeable about how to use a defibrillator.

Here are some pictures of them learning the basics from an expert trainer:

If you’d like to donate to the fund raising efforts, you can do so by contacting us through social media.

How a Leeds insurance broker has become one of the leading independents in the country

It’s a statement we’ve very proud of at Romero: not only are we fiercely independent, but we’re one of the leading independent brokers in the country.

With offices in Leeds, Manchester, Stockton, Halifax, Nottingham, the Midlands and London, we’re a truly national company who can support clients up and down the country.

A company doesn’t just become a leader in its field overnight. It takes strategy and commitment to principles.

And in this article, we wanted to share with you 5 of the reasons why Romero Insurance Brokers are the company we are today.

1.      We’ve got the experience

We’re more than 20 years old. Which isn’t that old in insurance terms. Especially when you consider that the first insurance contract drawn up is dated to 1347.

But the experience we have in this team is second to none. We have a number of staff who have worked in insurance for over 40 years. We have team members who have achieved great deals and won claims pay-outs for hundreds of clients.

And most importantly, we have employees who have worked at Romero since the beginning, way back in 1997. They stay because they know what a fantastic company this is.

2.      We put customers first

In fact, we’ve won numerous awards for it.

Blazoned across the wall as staff members enter their offices are the words ‘treat customers exceptionally’. It’s the company mantra that we follow in everything we do.

One of the reasons we’re one of the UK’s leading insurance brokers is because we maintain relationships with clients and have a very good retention record. When clients experience the service we deliver, they sign to stay with us time and time again.

You don’t achieve that trust and that relationship with clients unless you treat them exceptionally. We go the extra mile for our customers and fight for every cause.

3.      We care about our staff

We understand that our staff are our driving force. They’re the ones that deliver the outstanding service to clients.

In order to do that, they need to feel appreciated, motivated and fighting fit. That’s why we put such emphasis on their wellbeing.

You may have read on our social media platforms recently that we’ve signed an agreement with hero wellbeing. They’re created a fantastic app which allows users to track their mental and physical health, set themselves goals and targets and learn more about fitness and nutrition.

We invest in resources like hero so that our clients can get the very best from our team members.

4.      We’re specialists in different areas

It sounds contradictory to say, but we specialise in a number of different markets. We have a team in Manchester who support our Sport and Leisure clients, we have a division in Leeds for Private Clients, our Halifax office supports Dean Clough Mills…we have teams working on specialist areas so that they can give the best possible advice and service.

We’re not a ‘one-size-fits-all’ kind of company. We like to ensure that the person working on your account is the very best person for the job.

5.      We’re committed

At head office in Leeds last month, our chairman, Justin, spoke to a number of staff about the future vision for Romero.

We’re not giving anything away by telling you that, because the message was that we’re going to continue delivering the independent service we always have. We’re not selling out or restructuring. We’re dedicated to maintaining the relationship we have with clients long into the future, and gaining new relationships as we do so.

We’re committed to our customers old, new and yet to come.

This Leeds insurance broker, which has become a Manchester insurance broker, a Halifax insurance broker, a Stockton insurance broker, a London insurance broker, a Nottingham insurance broker, and now one of the leading insurance brokers in the country, by being committed to doing the best for our clients. It’s that simple.

If you’d like to talk to Romero about the market-leading and award-winning service we provide, call us today on 0113 281 8110.

What is Cybercrime and why do you need specialised insurance?

In 2017, there were 4.5 million incidents of fraud and computer misuse across England and Wales. Only 47 of those ended in prosecution.

As experts in Cybercrime insurance, we can help you recover if your business is targeted by attackers. Email our team today for more information on the cover we can provide, and read the rest of this blog for more information.

Although cybercrime is on the decline, the threat is as real as ever. Criminals become more and more sophisticated in the way they attack technology. At present we’re only managing to catch up, with anti-virus software and greater awareness.

The unfortunate truth is that as the statistics suggest, you will probably be a victim of cybercrime at some point in your career. In fact, in the UK, you’re more likely to fall victim to cybercrime than any other type of crime.

In 2017 (the latest complete statistics available), cybercrime affected 17 million people. And the criminals profited £130 billion.

What is cybercrime?

Different types of cybercrime include:

But cybercrime doesn’t have to be remote. There is also social engineering, where criminals enter your building unchecked so that they can access your system. They target businesses that don’t require ID tags and where they’re unlikely to be stopped and questioned.

The goal for most cybercriminals is financial gain; either from pilfering money or by ransoming stolen information and data.

How can you protect yourself and your business?

Unfortunately cybercrime is cat and mouse as the criminals find a new way of accessing data before we work out ways of stopping them. It’s very difficult to completely prevent it.

But there are steps you can take to limit the chances.

From a business level, the implementation of proper anti-virus and security software is vital. You should have email-vetting technology in place as well as backups on all important systems.

All staff should receive regular training on spotting the signs of suspicious behaviour.

At Romero’s, our IT department ensure that all staff know what phishing emails look like. And when to not divulge personal information.

What to do if you suspect you’re a victim?

The first step to take is to report any breach to the police. The NCA (National Crime Agency) have a specialist department dealing with cybercrime.

After alerting the police, it’s important that you speak to qualified cybercrime investigators. The criminals may have breached a level of your security, but you might have a chance of stopping them getting any deeper into your system.

You must contact your insurance broker as soon as possible. An established and reputable broker like Romero’s will guide you based on their experience and expertise. They will give you the next steps to take to remain compliant with your policy and have the best chance of getting the money back.

Why is cybercrime insurance so important?

The disappointing truth about cybercrime is that not only is it difficult to prevent, it’s even trickier to recover from. Once an attack has occurred, the damage is done.

Cybercrime insurance will help you get back on your feet after an attack.

Romero’s are experts in cybercrime insurance and we have a proven track record of helping businesses recover from attacks. If you’d like a confidential conversation about protecting your company, contact us today using the ‘contact us’ option at the top of this page.

Romero’s plays starring role in new Biba Manifesto 2019

From consumers, to small businesses to major corporate global clients; insurance brokers manage risk, and help create new opportunities for their customer.”

These are the words of John Glen MP at the launch of the BIBA Manifesto 2019 held on Tuesday 15th January at the Houses of Parliament.

At a time where the UK insurance market must compete with and face rising challenges from the rest of the world, it is important that our industry continues to be innovative, and offer the best possible products and services to our customers both big and small.

As one of the UKs leading independent insurance brokers, Romero’s customers are at the core of everything we do. We make a point of knowing each of our customers personally, and are proud of the relationships we build.

By knowing every detail of our customers’ businesses and the policies they hold with us, we’re able to support them in the most effective ways.

This is never more relevant than when a claim must be made, and by having someone fighting your corner with the support and advice you need most at a difficult time, we can deliver results when they’re critical to your business.

This dedication was recognised within the BIBA Manifesto itself, with the story of how our award-winning claims team worked on behalf of our client, Rednal Racing, when they faced a catastrophic fire:

“Following the fire, Rednal Racing’s brand new buildings which housed their operations and fleet of karts were completely destroyed.

Progress with the resultant claim was hampered when it came to light that the building also contained a brand new Ginetta racing car that had been leased to Rednal’s owner and his son (the up and coming racing driver Tom Wrigley), the day before the fire. At this point they turned to us for help.

We had not been notified of the vehicle upon delivery, and insurers were unaware, so the valuable car hadn’t been listed specifically on the policy, and the insurers were not going to meet that part of the claim.

By knowing every detail of our client and their policy, we were able to demonstrate that the £95,000 claimed for the car should be paid under the policy’s capital additions clause.

This knowledge and dedication not only saved the client a large sum of money, but also helped alleviate the heartache of such a disastrous event.

We’re pleased to say that Rednal’s business is now fully restored, and Tom has continued his impressive motor sport career racing in the Porsche Carrera Cup GB, proving that having a dedicated broker on your side not only can save your business, but can impact your entire life.”

We’re exceptionally proud of the way we’re able to support the Rednal Racing team, and this is just one example of how we strive for excellence in everything we do.

You can read more about the BIBA Manifesto here, or get in touch to find out how we can support your business.

Romero’s is a finalist in the Yorkshire Financial Awards 2019!

We’re absolutely delighted to announce that we’ve been shortlisted as a finalist for ‘Broker of the Year’ at the Yorkshire Financial Awards 2019.

The awards are a chance for Yorkshire to shine a spotlight on top performing businesses from the last 12 months, and we’re over the moon that our dedication to performance and outstanding service has been recognised.

The winners will be announced at an award ceremony in Leeds on the 21st February.

This nomination is yet another in a long line of acknowledgments and awards for Romero. We’ll look to add this prize to our wins at the Insurance Times Awards, the UK Broker Awards and the UK Claims Excellence Awards.

If you’re interested in our award-winning service and finding out how it can help your business, contact us today. We’re available by phone on 0113 281 8110.

Acid attacks: How to prevent a very real threat

It’s not something we want to talk about. An attack that causes serious harm to lots of people is the worst fear of any venue owner.

But we have to face the fact that acid attacks are a very real threat.

The UK has one of the highest acid attack rates in the world, with the number of these crimes surging by more than 500% between 2012 and 2016.

The attacks can be devastating and life-altering. Or in the case of Joanne Rand in 2011, life-ending.

If a person is intent on doing harm, venues such as nightclubs, sports grounds, shopping centres etc are unfortunately an ideal venue for acid attacks. When rooms are full and people distracted, victims find it harder to defend themselves. It’s also much harder to identify the perpetrator.

In 2017, Arthur Collins was sentenced to 20 years in prison after he sprayed acid in a London nightclub, injuring 22 people. On the night, he managed to evade suspicion after the incident and was even reported to have continued to drink, dance and send pictures via Snapchat.

It was only when CCTV pictures were analysed that Collins was identified.

Very recently, action has been taken by the government and retailers to prevent these attacks. This includes not selling the substance to under 18s and increasing sentences for those carrying acid on multiple occasions, or carrying with intent.

However, the changes don’t go far enough. It is still perfectly legal to carry acid.

And the definition of the crime is still more lenient than other weapons; stabbing someone is classed as attempted murder whereas use of acid is only GBH.

In this article, we’re going to look at the measures you should be taking to prevent an acid attack in your venue and how to limit the damage if one does occur.

Which types of acid are used in attacks

One of the main problems with preventing an acid attack is that acid is so widely used in everyday life.

Sulphuric acid, for instance, is used as drain cleaner by people doing domestic cleaning. It just so happens that it also has the capacity to cause severe burns and dissolve skin and bones.

Sulphuric, along with nitric acid is the most devastating, but hydrochloric acid or ammonia, which are found in common household products, are still toxic.

The acids are perfectly legal over-the-counter products. However, shops are duty-bound to report any suspicious purchase.

Preventative measures

Here are a few examples of the preventative measures business owners can take to prevent an acid attack.

Door searches

No one likes being frisked on the way into a venue. It doesn’t set the right tone for a good entertainment or shopping experience.

But it’s much better to put up with a full body search for 10 seconds than deal with a lifetime of pain and discomfort from an acid attack.

Door searches should specifically look for people bringing containers into the venue, as well as usual offensive items such as knives or drugs.

Question suspicious clothing

When you’re admitting people to your venue or place of work, question whether the clothes they’re wearing are appropriate for the situation. If they’re not, why not.

For instance, if you run a nightclub, and someone tries to enter wearing a large coat, you have every right to be suspicious. Why would someone want to wear such a thick item of clothing into a warm venue?

One reason might be because it’s easier to conceal offensive objects in thicker clothing.

Similarly, if someone enters wearing a baseball cap, chances are they’re not keeping the sun from their eyes. But there is a chance they’re wearing the cap to hide their identity.

Be careful; suspicion because you don’t like the way someone is dressed is discriminatory.

Active security presence

Having numbers is merely a box-ticking exercise.

Your security must be active and efficient, making sure that they’re aware of anyone acting suspiciously or in an aggressive manner.

Remember that acid is the weapon of choice for people who want to do the most amount of damage with the least chance of retribution. They’re harder to spot, but they’re more likely to be put off by a strong security presence.

What to do in the aftermath of an attack

Water, water, water

Acid will not dilute, it has to be completely washed off the body. To do this, you need to continuously apply large amounts of water for at least 20 mins. Experts say you should use at least 40 to 60 litres of water per wound.

Call the emergency services

Flooding the wound and stopping the burn is vital, but someone should immediately call the emergency services. Because acid doesn’t dilute, even the water used to wash the acid away will contain acid. Anyone at the scene should have proper training and proper protective gear. For mass-scale attacks, only firefighters can realistically provide the amount of water required.

Cut off clothes

Acid doesn’t differentiate between skin and clothes. It attaches itself to whatever it can find. If acid has gone on your clothes, it’s only a matter of time before it burns through and onto your skin.

All clothes should be cut away to avoid further burns.

Evacuate the area

It’s impossible to tell where acid is if it’s a clear liquid. That means that if the area isn’t evacuated, it could attach itself to shoes, clothing or personal items. After an acid attack, the area should be completely cleared to allow the emergency services to do their jobs.

The Insurance Part

Sticking to your risk management duties is one thing, but most businesses will follow the above advice regardless of their insurance commitments. That’s because they care about their customers.

But there are repercussions of acid attacks that proper insurance cover must take into account.

In the event that a copious volume of water is used to deal with the acid attack, you would have a saturated premises which would need to urgent attention by an appropriate ‘disaster restoration company’. They would set to safely removing and disposing of the water/residue/affected items and then dry out the damaged property, after which it would be restored. All of this should be covered under a Material Damage policy item particularly an All Risks policy wording, which covers Accidental loss, destruction or damage unless otherwise excluded.

From a public liability point of view, you have an obligation to create a safe space for your customers. You can’t be held responsible for the actions of an attacker, but you might be liable if you didn’t do enough to stop them.

Acid attacks are getting more and more common. Acid as a weapon should be treated with the same seriousness as knives or guns.

Our growing reputation in Halifax

Any good business knows that the best growth comes from giving back. Whether that’s through recruiting local talent or supporting local projects, businesses that succeed are the ones that grow roots.

And that’s exactly what our Halifax office is doing. Since moving into Dean Clough mill, our Halifax team has gone from strength to strength. We’ve grown considerably, both in the number of staff and in the services we deliver.

In fact, we’ve seen such impressive growth in just five years, that we’ve outgrown our first Halifax office and have had to move into a bigger space (still in Dean Clough).

Don’t be surprised if that new office reaches maximum capacity in the near future either, as we’re constantly on the lookout for Halifax and Calderdale’s top insurance talent.

We’re not judging our growth on the size of our business alone, but also in the strength of our positive impact in the community.

We’re keen to make sure that, as with all our offices, the Halifax office can succeed because the area of Halifax is succeeding too.

That’s why we’re happy to support a number of local projects that bring happiness and wellbeing to residents of the town.

The first of these is ‘Light Up A Life’, a number of special services organised by the Overgate Hospice. Those will run through December and we’re delighted to back such a great cause. If you want to know more about Light Up A Life, you can read about it here.

That’s not the only Halifax cause we’re sponsoring in December though.

We’re also putting our backing behind the Mencap ball.

Followed, in January, by another Overgate Hospice event – the Sportsman’s Dinner.

These are exciting times for Romero in Halifax, and for the town as a whole. We look forward to helping Halifax grow and prosper.

How to avoid keyless theft

Cars have come a long way in recent years. The comfort and performance that we take for granted now, was only a pipe dream 10-15 years ago.

There’s no better example of this than security and access. Automotive designers have considered how people use their car in their everyday life and created solutions to suit.

One such solution has been keyless entry, where you can gain access to your car so long as your key is on your person and you’re within a certain distance of the car.

A great idea. Less fumbling around for keys, potentially less theft of keys.

However, as criminal behaviour and new security technology play a cat and mouse game, keyless entry has left a backdoor to opportunists who now no longer need direct access to your keys to get into your car.

How does keyless theft work?
Keyless entry works on via a signal. In simplistic terms, if your car can read the signal from the key, it will unlock. If it can’t, it will lock.

Keyless theft, also known as ‘relay theft’ is relatively simple and involves using a couple of devices to trick the car into thinking the key is closer than it actually is.

The two devices are a relay amplifier and a relay transmitter (hence ‘relay theft’). When thieves have identified a house with a keyless-entry car on the driveway, they use the amplifier to increase the reach of the signal. The transmitter, which is held by someone stood next to the car, picks up this extended signal and essentially becomes the key.

The car picks up what it believes to be the key and unlocks.

How can you prevent keyless theft?
The crime may be pretty simple but it’s also pretty simple to prevent if you take proper precautions. We’ve listed three below, but these options should be explored as an additional to standard precautions for expensive cars. Physical barriers (such as steering wheel locks), housing your car in a garage, never keeping valuables in your car etc should all be pre-requisites.

Below are three ways you can prevent criminals from picking up the signal from your key and amplifying it:

Faraday Pouch
A Faraday Pouch is a little pocket holder for your key which blocks any signal from entering or leaving. Before purchasing a Faraday Pouch, you should consult a trusted expert. Tests on some Faraday pouches have shown some signal still transmitting, so you should only purchase one that has passed rigorous testing.

Keep keys away from doors and windows
We would advise that all keys, whether for keyless entry or not, are left far from home entry points.

Keyless entry only works if the thieves can pick up the signal from your keys and this is a lot easier for them to do if they know where the keys are. Keep your keys away from any entry point and out of sight.

Find out if you can switch your key off
This isn’t applicable to all keyless-entry keys, but some may have an option to switch off keyless entry when not in use. Speak to the car manufacturer to find out if this is the case and whether it is detrimental to the car to turn this system off and on repeatedly.

As always with criminal behaviour, the best defence is a good offence. We may never completely eradicate theft, but we can make it harder for criminals. Insurance claims are easier won if all reasonable preventative measures are put in place.

Our claims director, Jody Thirkell, told us:

“Our claims team are seeing more and more of these types of theft and on one occasion, three keyless entry vehicles were stolen on the same night from one location with the keys hanging up just inside the front door of the property. Our clients should be alive to these risks which may not have even been considered until it is too late. As always, if you need advice Romero customers can call our claims team on 0113 2814 8110.”

If you need any more information, you can also contact us via Facebook, Twitter or LinkedIn.

Support the IPT freeze

As a way of combatting a decrease in the money the government takes from fuel duty, there is a real concern in the insurance industry that Phillip Hammond plans to put a rise in Insurance Premium Tax in his next budget.

IPT, which currently stands at 12%, is a tax on premiums paid by the policyholder.

It has already risen in the considerably in the last two years; doubling from 6% to 12%. That, according to BIBA shows an increase larger than that of tobacco and alcohol duties.

Romero Insurance Brokers suggest that any rise in IPT would be grossly unfair and potentially dangerous.

Insurance is vital for any business, no matter the size, and an increase in costs could squeeze some bottom lines to breaking point. Or even more worryingly, some would avoid paying for insurance altogether.

You shouldn’t be penalised for doing the right thing.

There have already been calls from insurer, Ecclesiastical and the Charity Finance Group to make charities exempt from paying the tax. But if it’s unfair for charities to pay IPT, detractors could also argue that it’s unfair for 3rd sector contractors, businesses with low profits and those with high premiums after a series of no-fault claims, to pay.

Romero MD, Simon Mabb, had these words on the matter:

The government have increased the Insurance Premium Tax rate in the last few years from the original 2.5% when first introduced to 12%.  This has been an extra source of revenue for the tax man but this is now affecting customer’s insurance purchasing decisions which can’t be right.  The 12% rate is excessive and on motor business the government is taking more in tax than the broker that is arranging the cover, advising the customer on cover and assisting with claims.  The broker is also having to fund regulation costs from their income as well.  We regularly see customers that need specialist covers, for example, flood cover, that are just priced out of taking this with the additional 12% tax on top.  Likewise a young driver paying £2,000 for their insurance premium is paying a further £240 in Insurance Premium Tax. 

There is talk of the government looking to raise this 12% higher still in the next budget and this is something we all need to be vocal about.  The insurance industry and the end customers alike.  At the end of the day it is wrong to penalise people for doing the responsible thing, which is why we’re calling for an end to rises in Insurance Premium Tax which is a tax on the consumer not a tax on insurers as has been portrayed by the government with previous increases.

If you feel as strongly as we do about freezing IPT, it’s important that you lobby your MP and make your voice heard. This proposed rise is unfair and anti-growth, and must be stopped.

You can follow the #IPTsUnfair hashtag on Twitter for the latest updates.

Directors and Officers Claims Trends: How is D&O changing as we head towards 2020?

At Romero Insurance Brokers, we look at every case individually and assess the requirement of each company for each type of insurance. We make sure that our clients are covered for all eventualities. We know what a large impact even a single claim can have on your business, so making sure you’re financially protected is the first line of defence.

In our latest article, we look at the how D&O claims will change and evolve in the near future. This article features comment on changing regulations, a growing claims culture and increasing costs. If you have any thoughts on anything you read below, we’d love to hear them! Contact us today via the contact information at the top of this page or find us on LinkedIn, Facebook and Twitter.

Regulations tighten, but people are still people.

The attitude of a claimant drives the claim, and sometimes the actual merit of the case takes a back seat. No matter how blameless the defendant, determined claimants taking action without legal action can incur thousands in costs and drags cases over months and sometimes years.

Contract disputes will always be a major part of everyday business

In a slightly frustrating continuing trend, D&O claims from contract disputes will probably continue indefinitely. There will always be a supplier or purchaser who isn’t happy with a certain product and service, and no matter how blameless the other party, people don’t like paying if they don’t think they’re getting value for money.

Depending on the insurer, there are different levels of cover in D&O depending on the dispute. It’s vital in this area that you study your policy wording. We work with a large panel of British insurers, all of whom have their own definitions of what would be covered under their D&O policies for contract disputes. Some may cover simple contract disputes, but it’s rare. It’s likely that your circumstances will have to meet a certain number of specified criteria. If you’d like us to help you examine your policy in more detail, or explain the ins and outs, please don’t hesitate to get in touch.

In the age of social media and digital footprints, bad news travels fast.

With today’s technology and the immediate and public access customers have to companies, PR and reputational protection is important. We have seen recent examples, such as the multiple profit warnings at Provident Financial in 2017, where thousands of disgruntled customers and employees have taken to social media and other PR channels to vent anger.

If the reputational damage is a result of mistake or breach of duty of a director or officer, the financial implications for the business could be huge.

As more and more people become digitally literate, and the economic and ethical performance of companies is more open to the public, D&O protection of this kind is a growing requirement.

Changes in insolvency rules will increase claims against D&O.

As the number of company and individual insolvencies continues to rise, it’s predicted that claims against D&O insurance will do the same. Changes in the rules regarding insolvencies have led to more focus on the behaviour of directors (who now have to have their previous 3 years conduct examined, not 2) and shadow directors (who were previously hidden from scrutiny). The Insolvency service also now have longer (3 years instead of 2) to bring about action.

HSE fine levels will increase the financial repercussions of health and safety breaches.

Recent regulatory changes now allow the HSE to hand out larger fines to companies that are found to have been in constant or serious breach of health and safety law. Whether through causation or correlation, the number of fines over £1m in 2017 was more than the previous 20 years put together.

HSE investigations and prosecutions were already a frequent source of D&O claims. We’re possibly set for a cat and mouse game of the HSE chasing more prosecutions because of bigger fines, and the companies themselves taking health and safety and the avoidance of such prosecutions more seriously.

Breach of fiduciary duties claims will grow, but still create big grey areas.

The number of claims by investors against directors failing to fulfil their fiduciary duties has risen. Many fiduciary duties are vague and can incorporate many aspects, so whether or not an individual has fulfilled or is in breach of their duties, is often debatable. Prime and common examples of these type of claims include dual interest (where having interests in another company hinders performance for the business in question), upholding the positive image of a brand or irresponsible pay outs for former employees or contractors.

It’s become more expensive to fight D&O claims

Alongside a rise in claims culture, the cost of defence and barristers is increasing. As the waters of D&O claims become murkier and murkier, claims that would once have been settled out of court via legal advisers are no requiring the support of barristers and other expensive defence personnel. And with more information and data available to claimants and defendants than ever before, more hours are required to examine all evidence.

In this article, we looked at the latest report by AIG into the changing landscape of D&O insurance. For the full article from AIG, click here.