Untapped potential.
The average broker is unlikely to have much luck selling directors and officers (D&O) liability cover to blue chip companies as most already have it. Further down the business ladder, however, sales opportunities are massive says Edmund Tirbutt.
AIG Europe (UK) estimates that only 35% of UK private companies haveany form of D&O cover and that for those with turnover of less £10m the
proportion drops to less than 10%. The fact that the cover has
traditionally been perceived as too complex for the average non-specialist
broker to understand, has hindered market penetration, but now most major
players use straightforward policy wordings, and covers are well within
reach of small businesses. An annual premium of £1000 may secure between
£500
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