A new range of insurance has been introduced by Direct Line catering for the needs of small hotel owners having 12 rooms or less.
The Direct Line insurance cover offers both public and product liability up to GBP2 million as well as loss of income protection up to GBP500,000. Policies can also be tailored to incorporate add ons specific to individual needs, typical examples being loss of licence or personal accident.
A spokesperson from Direct Line commented that this new insurance cover would be perfect for smaller operations, enabling them to enjoy all the benefits offered by an insurance company the size of Direct Line with the tailored fit provided by the policy itself.
A new commercial insurance product has been introduced by Hiscox Insurance designed especially for top quality venue owners.
The new Hiscox policy will be sold exclusively through brokers and will target places such as art galleries, museums, theatres and so on. Protection will include buildings and contents insurance, public liability, employer liability and also risks from the internet and email. Extras can also be added as needed, for situations such as doctors surgeries where malpractice cover may be required.
A spokesman from Hiscox was pleased to be able to offer this new product and felt that the specialised nature of the policy would lead to it being adopted by the places that need it, the value of the cover being clear to see.
The Prudential has named its new chairman as Harvey McGrath, previously the chairman at leading hedge fund company Man Group. Mr McGrath retired from that position late last year but has clearly felt the need to return back into the financial services sector with this new appointment.
The role will be a non-executive one for which he will receive a fee of GBP500,000 annually. Mr McGrath felt that the Prudential combined a very strong history with an exciting future and as such seemed the perfect choice for him. He also meets the requirements of investors who wanted to see a chairman who was based in the UK but also brought experience of the international arena.
Mr McGrath has plenty of experience to draw upon and is looking forward to the challenge, with lots of background and hands on knowledge of many things the Prudential are currently dealing with.
