New Protection For Offshore Financial Services Sector

| February 26, 2013 | 0 Comments
Tim Nelson, The Trust Insurance Group Ltd.

Market leading insurers in Jersey and Guernsey have joined forces to bridge a historical gap in insurance cover for local businesses.

Sydney Charles Insurance Advisers Ltd in Guernsey and The Trust Insurance Group Ltd in Jersey have launched ‘OffSure Professional’, an exclusive cover that offers an all inclusive solution to a business’ operational risks. It is the first time such a comprehensive product has been available to the offshore financial services sector.

This groundbreaking policy covers; professional indemnity, directors’ and officers’ liability, investigation costs and expenses, loss mitigation costs, crime, reputational risk and an organisation’s exposure to employment practice liability. The coverage is non-prescriptive and is offered on a near blanket “all risks” basis.

OffSure Professional is an exclusive product to the The Trust Insurance Group and Sydney Charles, and provides underlying A+ rated security. It extends to offer coverage for reputational risk, email, Internet and IT networks abuse and misuse and should be considered a necessity for any company conducting business in the Channel Islands.

Tim Nelson, Principal Broker, The Trust Insurance Group Ltd., says:

‘The insurance industry has long seen the need for an all encompassing insurance policy that can protect a firm both for its own (first party) losses as well as any liability that may arise from its customers (and other third parties – regulators, employees, etc.). We are very proud to be spearheading this new service for Jersey and Guernsey customers alongside Sydney Charles.’

Marilyn Greening, Associate Director, Sydney Charles Insurance Advisors Ltd, says:

‘Sydney Charles is known for specialist insurance and its customer focused approach to product innovation. OffSure Professional has been written in an easily understandable format that is simple to navigate and it has been created specifically for the offshore market. It is imperative for the local financial industry to have this type of all encompassing cover and Sydney Charles is very pleased to be able to deliver this ground breaking product alongside Trust Insurance Group in Jersey.’

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Category: Finance & Business

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