​Aviva refreshes management liability proposition

Aviva has refreshed its management liability proposition, introducing broader cover, enhanced flexibility and revised policy wording as businesses face an increasingly complex regulatory and governance environment.

The update forms part of the insurer’s continued investment in financial lines through its global corporate and specialty (GCS) division and aims to provide brokers and customers with protection that better reflects emerging business risks.

According to Aviva, the revised proposition has been designed to address changing employment practices, growing regulatory oversight and increased focus on environmental, social and governance (ESG) issues.

Daisy Laskey, head of management liability at Aviva, said: “The risks facing directors and businesses are changing, so their insurance needs to keep pace.

“We’ve strengthened both our management liability and corporate directors’ and officers’ (D&O) covers to make them clearer, more relevant and better suited to the challenges organisations are dealing with today.”

Key changes

Among the key changes is the inclusion of employee dishonesty and pension trustee liability cover as standard, each with a £25,000 limit. The insurer has also introduced any-one-claim limits across D&O, employment practices liability and corporate legal liability sections to provide greater certainty around claims handling.

The refreshed product also includes expanded investigation cover, allowing customers to access support earlier in the investigation process.

Aviva has enhanced protection relating to ESG risks, adding cover for ESG-related claims and environmental investigation costs. Workplace-related protections have also been broadened to include claims arising from employee social media activity.

The insurer said clearer policy wording and more consistent limits across sections are intended to make the cover easier for customers and brokers to understand and navigate.

In addition, several sub-limits have been increased and wording updated to better reflect changing business structures and operating environments.

“This gives brokers greater confidence when placing cover and helps customers better understand the protection available when they need it most,” Laskey said.