Aurora creates new management liability product

Digital commercial insurance platform Aurora has launched its second specialist offering, management liability policy (MLP), in partnership with AXA.

According to Aurora management liability has become more important than ever. The company said that today’s volatile market continues to expose the risks that all businesses face, and the very real and common scenarios that can open them up to litigation, for example, insolvency-related directors’ and officers claims, fraud, serious accident and injury and tightening regulation.

Aurora added that its algorithmic approach to underwriting enables the MGA to offer significant limits of liability via its platform, helping businesses to get the cover they need, as well as risk management insights and support through rradar.

The MLP product is split into three sections of cover: directors’ and officers liability, employment practices liability and corporate legal liability. Key features include regulatory intervention, employment claims, pensions, contract disputes, data protection and GDPR support.

“Businesses have never been as vulnerable as they are today, working in close partnership with our partner, AXA, we believe we are able to offer our clients market leading protection whilst being able to provide a greater level of insight and education," said Aurora’s co-founder and chief executive, Jan-Vincent Finn."Supporting our clients better understand the risks they face and through rradar; guidance and support to mitigate their exposures.”

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