D&O case study: we can't find insurance!
A publicly listed medical technology company (Company A) had £20m Directors' & Officers' Liability insurance. The existing insurer was unable to offer renewal as they had exited this class of insurance. Company A's existing broker had apparently undertaken an extensive market exercise but been unable to find any insurer willing to offer insurance.
With the renewal having passed, Company A was left without insurance protection. They approached Protean Risk for help.
We spent time to understand Company A's business and the risk profile. We put together a comprehensive broking pack and helped to improve Company A's risk profile. We then discussed the risk with a few insurers that we felt would be willing to consider Company A. After negotiation we were able to secure a £5m primary policy, supported by a £5m excess of £5m policy and £10m excess of £10m policy; £20m cover limit in total.