LONDON--(BUSINESS WIRE)--
ACE Group today announced the launch of ACE Elite Not For Profit, a
directors & officers (D&O) insurance cover for charities and
not-for-profit organisations based in the UK & Ireland.
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Simon Million, UK & Ireland D&O Manager, ACE (Photo: Business Wire)
With proposed amendments to the Charities Bill aimed at tackling serious
abuse of charities and increased scrutiny over charities’ fundraising
and management, charity trustees and directors are becoming increasingly
vulnerable to claims.
Providing comprehensive cover that is fully compliant with the UK
Insurance Act 2015, ACE Elite Not For Profit features the following
benefits:
-
Separate limits of indemnity for individual trustees, the organisation
and employment practice liability
-
Policy limit pre-investigation and investigation cover for individuals
-
Cover for:
-
insured person liability (up to a maximum of £10m limit)
-
organisational legal liability (up to a maximum of £5m limit)
-
organisation employment practices liability (up to a maximum of
£5m limit)
-
employee dishonesty (£50k limit)
-
kidnap & ransom (£25k limit).
In addition, the cover provides access to legal advice from law firm
Gateley Plc via a dedicated helpline, offering independent and
confidential guidance from specialist solicitors on employment practice
and D&O matters.
Simon Million, Directors & Officers Manager for ACE in the UK & Ireland,
said:
“As we have seen in the news recently, charities and not for profit
organisations are particularly vulnerable to claims made against their
own management, which can have devastating effects on their reputation
and threaten their existence. With ACE Elite Not For Profit, we give
charitable organisations the peace of mind that they will be adequately
covered should the worst happen, ultimately protecting the people and
causes they work hard to support.”
ENDS
About ACE Group
ACE Group is one of the world’s largest multiline property and casualty
insurers. With operations in 54 countries, ACE provides commercial and
personal property and casualty insurance, personal accident and
supplemental health insurance, reinsurance and life insurance to a
diverse group of clients. ACE Limited, the parent company of the ACE
Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a
component of the S&P 500 index.
ACE UK & Ireland’s five regions are:
· Ireland (Dublin and Belfast) · Scotland (Glasgow, Aberdeen) · The
North (Leeds, Manchester, Newcastle) · Midlands (Birmingham) · London
and South East (London, Maidstone, Reading)
Additional information can be found at: www.acegroup.com/uk
ACE European Group Limited registered in England &Wales number 1112892
with registered office at 100 Leadenhall Street, London EC3A 3BP,
authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151221005011/en/
Source: ACE