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Combination cover from PYV

PYV has introduced a combined insurance package for IFAs and bolstered its directors and officers’ liability and employment practice liability policies.

PYV has teamed up with high-net-worth insurer Hiscox to launch a continuous office insurance package, covering damage or loss to premises, theft, automatic cover for employee dishonesty and computer breakdown cover.

The policy provides worldwide cover for portable equipment and D&O and full EPL can be arranged through a range of insurers, including Markel and AIG, based on shorter proposal forms and faster turn-round times, with minimum premiums of 400. Indemnity limits of 250,000, 350,000, and 1,000,000 are available, with higher limits on request.

The D&O policy covers legal costs and damages associated with the defence of a wrongful act committed by directors. It pays investigation costs incurred by directors as part of regulatory investigations and EPL costs and damages of directors and the company .

PYV associate director-special projects Angus Ogg says: “The number and size of EPL claims, such as discrimination and harassment in the workplace, have been increasing for many years due to ever expanding legislation and awareness. The cost of defending claims can prove damaging to companies, directors and officers.”

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