AIG Europe has launched Financial Protector, the first product under its new Businessguard brand, developed to target mid-market businesses.

The package is designed to protect private businesses and their directors against exposure to human resources liabilities, management liabilities, reputational threats and fraud.

Damien Coates, commercial liability manager, said: “Some of these exposures can be career-threatening and directors ignore them at their peril.”

AIG pointed out that there were about 1,500 disqualification proceedings a year against directors, and the number increased by 20% last year.