Thursday, 2 August 2012
ACE launches legal helpline for UK D&O and EPL clients, Standard Club offers three new products including K&R and Willis opens Superyacht office in Barcelona.
ACE launches legal helpline for UK D&O and EPL clients
ACE has launched a dedicated UK helpline and website, offering professional legal advice free of charge to its directors and officers (D&O) and employment practices liability (EPL) insurance customers.
The helpline is designed to prevent claims from developing and to reduce the time and cost spent managing them when they do.
The service will be available to all individual and business customers that currently have an ACE D&O or EPL policy in place.
ACE is partnering with Gateley, the top 50 UK law firm, ‘to ensure that clients have easy access to a team of qualified and experienced solicitors via the helpline’.
Gateley solicitors can advise on the legal aspects and considerations surrounding D&O and EPL regulation both before and during a claim, said the insurer.
Use of the service and the advice provided is optional and has no effect on a client’s policy.
Simon Million, UK & Ireland D&O Manager for ACE, commented: “ACE believes prevention is better than cure. By providing concise and practical guidance on day-to-day legal issues, our helpline offers clients proactive support in advance of any claim. The service is designed to help our clients better mitigate disputes and manage the often significant expense of defending claims. Uniquely, all advice given is non-obligatory, so it is up to the client whether or not they choose to implement it.”
Sarah Garth, Employment Partner at Gateley, added: "UK employment law has become increasingly complex. The number of employment tribunal claims has risen by 60 per cent over the last six years alone. This affects companies of all sizes and Gateley offers the expertise and insight to help businesses limit their risk exposure and reduce claims. Our team of experienced practitioners prides itself on offering advice, which is clear and commercially-focused.”
The complimentary Legal Advice Helpline is available within the UK on 0845 250 8585, between 8.30am-5.30pm GMT Monday to Friday.
Standard Club offers three new products including K&R
The Standard P&I Club is offering three additional insurance products—Kidnap and Ransom (K&R), Traders’ Transport Liability cover and Professional Liability cover—to members.
“In offering these new policies we’re building on the strong relations we have with the club’s members to provide cover which is in many ways a natural extension of P&I. Many members have told us they would prefer to buy this type of insurance through their club because they like the club’s high level of service and hands-on approach and appreciate the value of seamless cover,” said Standard Club Chief Operating Officer Jeremy Grose.
The K&R policy is designed especially for shipowners whose ships frequently transit high-risk piracy areas. It extends to all associated expenses including loss of hire, loss of ransom in transit, crew liabilities arising from kidnap, legal expenses and the cost of crisis responders.
The club will handle claims resulting from the piracy cover, with the assistance of Hiscox Syndicate 33 at Lloyd’s. Ransom negotiations will be managed by Control Risks.
Ransom payments and associated expenses cover will normally be limited to $5m per insured event and $2.5m for loss of hire, but higher limits can be arranged.
The Transport Traders’ Liability policy covers time charterer’s liability, including P&I and damage to hull, FD+D (Defence) and liabilities arising from trading operations.
Separate limits can be provided up to $500m each for chartering liabilities and trading operations.
The Professional Liability insurance is designed for shipowners who are responsible for ship agents’ activities and for those who manage third party ships.
It provides cover for agents and managers in relation to a wide range of liabilities including professional negligence, cargo, property damage and personal injury up to a limit of $10m.
All three policies are optional and may be purchased in addition to existing P&I cover, and are supported by reinsurance purchased through Lloyd’s and the London market.
Although the insurance is intended for ships entered in the Standard, members may apply on behalf of other ships if their fleets are shared between clubs.
Willis opens Superyacht office in Barcelona
Willis will open a new Superyacht insurance broking office at the MB92 shipyard in Barcelona this September.
Willis is offering all visitors a free analysis of their insurance arrangements at the MB92 shipyard.
Willis’ Superyacht insurance specialists already have offices in London, Ipswich, Amsterdam, Singapore, Sydney and Fort Lauderdale.
The new site reflects Willis’ desire to support its clients in the expanding European Superyacht market, said the broker.
"The European large yacht market remains surprisingly resilient despite turbulence in world economic markets," said Neil Macnaughtan, Managing Director of Willis Global Marine. "Willis’ new office in Barcelona demonstrates our commitment to clients, owners and operators in the Mediterranean region, which is important for growth and also continues our support to the large yacht industry globally.”
Mark Feltham, Executive Director of Willis’ Global Superyacht practice, said: “The MB92 shipyard is one of the world’s pre-eminent refit centres for large yachts. Our choice of Barcelona as the venue for this new project reflects our confidence in MB92 over the long term. The recent expansion in their facilities shows us that they have significant confidence too. Willis is very excited about opening a new office in this world-renowned location.”