AXA adds Brexit cover to management liability product
French insurer AXA has upgraded its management liability product to include Brexit cover.
Claims arising from the UK’s exit from the EU will be covered for both directors’ & officers’ liability (D&O) and company legal liability (CLL).
“Businesses in the UK are increasingly concerned about the regulatory impact of the UK leaving the EU,” said Callum Taylor, head of management liability at AXA. “We want to give our customers confidence that AXA is behind them in these uncertain times. We are constantly adapting our policies to meet the new challenges being thrown at UK businesses,” Taylor added.
Management liability insurance covers the costs of defending a business and its senior managers against legal and regulatory actions. Brexit claims might arise when the regulatory landscape changes, affecting enforcement of existing or new EU or UK legislation in areas such as health and safety, food hygiene, trading standards, data protection and the environment, according to a corporate statement.
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