This rapidly evolving technology company had been listed on the AIM market in the last couple of years, but it appeared their insurance policies hadn't been reviewed as the business had continued to grow and develop. The Directors & Officers cover had an exclusion for any IPOs/placings as well as a large list of exclusions which, in the event of a claim, would likely have rendered the policy ineffective to the Directors it was meant to protect.
The Financial Director had worked with CLEAR in the past and contacted us to review the cover in place and advise whether it could be improved. On review, CLEAR highlighted a myriad of issues with the policies in force and advised that new cover needed to be arranged as a matter of urgency. Using our wide knowledge of the AIM market and close ties with the insurers specialist in the technology sector, we were able to obtain quotes for replacement cover that was fit for purpose within 2 hours and they were put in place by the end of the same working day.
CLEAR are continuing to work with the client to arrange a range of global policies, unifying cover for each of their subsidiary businesses with one insurer.