- Emergency costs of up to 10% of the limit of liability without the insurer’s prior consent
- A bilateral discovery period of 6 years is given for approved persons who retire during the policy period, if the policy is not renewed
- Broad automatic cover for Approved Persons of subsidiaries acquired
within threshold
- Accident and Health
- AIG Combined
- Aviation
- Crime
- Crisis Management
- Directors and Officers
- Energy
- Environmental
- Financial Institutions
- Fleet Protector
- Kidnap, Ransom and Extortion
- Liabilities
- Lifeline Plus
- Major Accounts Practice
- Marine
- Mergers and Acquisitions
- Political Risk
- Professional Liability
- Property
- Risk Finance
- Risk Management
- Small Business
- Surety
- Trade Credit
Businesses
Insurance
Financial Institutions
- Accident and Health
- AIG Combined
- Aviation
- Crime
- Crisis Management
- Directors and Officers
- Energy
- Environmental
- Financial Institutions
- Fleet Protector
- Kidnap, Ransom and Extortion
- Liabilities
- Lifeline Plus
- Major Accounts Practice
- Marine
- Mergers and Acquisitions
- Political Risk
- Professional Liability
- Property
- Risk Finance
- Risk Management
- Small Business
- Surety
- Trade Credit
- CorporateGuard Hedge Funds
- CorporateGuard Approved Persons Insurance (Financial Institutions)
- CorporateGuard Civil Liability (Financial Institutions)
- CorporateGuard Comprehensive Crime Insurance (Financial Institutions)
- CorporateGuard Directors and Officers Insurance for Financial Institutions (SEC and non-SEC)
- CorporateGuard Employment Practice Liability Insurance
- CorporateGuard Investment Management Insurance
- CorporateGuard Pension Trustee Liability (Financial Institutions)
- CorporateGuard Public Offering of Securities Insurance
- CorporateGuard VC Protector
- Credit Card Insurance (Financial Institutions)
The AIG Building
-
58 Fenchurch Street
London EC3M 4AB
United Kingdom -
Tel: +44 (0)20 7954 7000
Fax: +44 (0)20 7954 7001 - Email: marketing.uk@aig.com
- Go to AIG UK Limited
CorporateGuard Approved Persons Insurance (Financial Institutions)
Overview: Protects the officers and staff of financial institutions to ensure they are empowered to defend themselves against FSA disciplinary or enforcement proceedings, any 'prohibition from approval' or 'withdrawal of approval' procedures and even investigations in which no wrongful act has been specified.
Who is it for?: All financial institutions with personnel subject to the Approved Persons regime.
Specified categories of the officers and staff of institutions regulated by the FSA are required by the Financial Services and Markets Act 2000 to be approved to perform one or more ‘controlled functions’, roles which relate to both the management of the firm and its professional services.
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Cover
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- FSA disciplinary or enforcement proceedings, “prohibition from approval“ and “withdrawal of approval” procedures and even investigations in which no wrongful act has been specified
- Cover is triggered by any actual or alleged act, error or omission by an approved person in his or her capacity as such
- Advancement of defence costs
- Includes costs incurred by the regulator and allocated to the insured
- Policy tailored to meet the needs of all persons registered under current regulations and will respond under new or amended legislation
- Full severability of the proposal form
Cover Extensions
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