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PA and Business Travel Insurance for Board directors

15th November 2010 4 Comments

“In terms of Personal Accident and Business Travel Insurance for main Board directors, we are considering what level of coverage would be appropriate. Would anyone be willing to share what level of coverage they currently have for Board directors?”

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Comments

  1. FTSE 250 said

    15th November 2010 at 12:00 am

    Our any one accident limit is £15m, scheduled aircraft accumulation limit is £5m and non-scheduled aircraft accumulation limit is £2m.
    Medical, emergency, rescue and assistance sum is unlimited, personal liability £5m and legal expenses £50k.

    • FTSE 250 said

      15th November 2010 at 12:00 am

      I spoke to our Insurance Manager and he thinks your brokers should be advising you about appropriate levels.

      There are loads of sub-limits, but the the broad thrust of our policies are:
      Personal Accident
      Per Event for Insured Persons whilst travelling in multi-engined aircraft £5,000,000
      Per Event for Insured whilst travelling in any aerial device other than a multi-engined aircraft £2,500,000
      Event Aggregate Limit £10,000,000 in respect of any one claim or series of claims arising out of a single event or cause
      Any one Claim £500,000

      Travel
      Medical (while overseas) – unlimited
      On-going medical treatment in the UK £50,000

      I would caution that our Directors do not travel abroad very often at all so these may not be useful levels to compare to.

      • FTSE SMALL CAP said

        15th November 2010 at 12:00 am

        We insure all directors and group senior executives on 24 hour basis and provide worldwide cover for 5 times salary for death and capital benefits and lower benefits for personal injuries and temporary total/partial disablement. This is not a contractual entitlement. The benefits would be to paid to the Company rather than the individual or his/her estate. It would be used at its discretion of the Company, which may include payment into the pension scheme, towards the costs of executive search to find replacement and temporary cover etc.,

        • FTSE 250 said

          15th November 2010 at 12:00 am

          We provide all directors and employees worldwide with the same level of Personal Accident cover – 5 times salary, with lower limits for personal injury.

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