“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?”
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 250said
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 CAPsaid
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 250said
We provide all directors and employees worldwide with the same level of Personal Accident cover – 5 times salary, with lower limits for personal injury.
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.
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.
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.,
We provide all directors and employees worldwide with the same level of Personal Accident cover – 5 times salary, with lower limits for personal injury.