Companies should check they have the right cover in place, warns JLT
Lack of preparation could leave company directors exposed to liabilities extending from swine flu in their Directors' & Officers' (D&O) cover, warned Jardine Lloyd Thompson Limited (JLT).
Michael Lea, Head of D&O Liability, JLT, said: ‘Directors may be focused on the idea that the Swine Flu Pandemic could impact their employee liability and general liability insurance but a lack of preparation may leave them exposed in terms of their D&O cover. Now is the time for them to consider plans and activities more carefully particularly with recent data from the Chartered Management Institute reporting in March that 52% of companies in the UK still do not have plans in place to cope with business disruption.’
Lea concluded: ‘Companies should be making sure that their D&O liability, employee liability and general liability brokers are all working together at this crucial time checking they have the right cover across their business that is working in the most cohesive and effective way.’
JLT has launched a 6 point check list to help companies to manage their exposure.