Liability and Financial Lines Insurance

UIB places liability and financial lines cover for professional services firms, contractors, retailers, manufacturers and corporates with directors exposed to personal liability. Each of these carries a different primary exposure, so programs are built around the specific risk rather than a single generic liability policy.

For professional firms, Professional Indemnity insurance in the UAE responds to claims of negligent advice, errors or omissions in work delivered, often a contractual requirement before a client will even sign an engagement. For directors of companies, D&O insurance in the UAE covers their personal assets from liability claims arising out of their management decisions, a point that is becoming more pertinent as the regulators in the UAE continue to scrutinize corporate governance. Public Liability insurance is included in these packages for businesses that have a physical location or are open to the public, and it protects against claims for third-party injuries or damage to their property caused by as little as a customer falling on a wet floor.

For manufacturers and distributors it is the potential for claims where a product causes damage once it has left your control under the Product Liability insurance. We’re clear on how these policies interact, since a single incident, a defective product causing injury on a client’s premises, can trigger professional indemnity, product liability and public liability simultaneously if not structured correctly.

A question we hear often is ‘do directors need separate D&O cover if the company already has general liability insurance?’ Yes, general liability doesn’t extend to personal claims against directors, which is exactly the gap D&O is built to close.