DUAL launches Public Offering of Securities product

by Gill Montia

Story link: DUAL launches Public Offering of Securities product

Specialist underwriting agency, DUAL Corporate Risks, has launched a standalone Public Offering of Securities Insurance (POSI) product that provides cover for directors, officers and other assureds for claims arising out of any listing documentation relating to a Public Offering.

Capacity is being provided by Arch and Hiscox, with limits of indemnity up to £10 million, and the new offering is available to UK and Irish listings only.

With the number of listings expected to rise in 2011, DUAL believes its new offering to be “significant and popular”.

The firm’s underwriting director (financial lines), Jennifer Martin, comments: “We are confident this product will be welcomed in view of our exceptional service levels and positive approach to underwriting.”

Earlier this month, DUAL received authorisation from Lloyd’s to underwrite business domiciled in South Africa and Switzerland on a direct basis, via a regulated and approved Swiss broker.

The move has allowed the firm to underwrite its financial products, including Banker’s Blanket Bonds and Commercial Crime in both territories, from 1st January 2011.