D&O case study: mind the gap

A sizable firm in the auction sector purchased £80m Directors' & Officers' Liability cover. The insured company had a primary policy and a number of excess of loss insurance policies to make up the £80m limit.

At renewal one of the excess of loss insurers was only prepared to offer a 50% line for one of the middle layers. The firms current broker were unable to find an insurer willing to fill the gap. This potentially put the whole programme at risk and could have resulted in substantial premium increase.

Protean Risk was approached to help. They were able to develop a compelling risk presentation and quickly identified potential insurers that had not previously been offered the risk and who were interested. A solution was found which enabled the insured company to finalise renewal terms at acceptable terms with the primary and other layers.