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    Rachel Turk

    Rachel Turk

    Focus Group Leader and Underwriter

    Enhanced investigation and inquiry cover for companies under their Directors & Officers insurance policies.

    Regulatory investigations and inquiries are increasing in frequency and intrusiveness. The number of investigations opened by the US Securities and Exchange Commission's Enforcement Division in 2014 increased by nearly 10% over the previous year. The Division is also building its resources, seeking budgetary approval for 50 new employees in 2016 to reinforce its investigative functions.1

    Leading Lloyd's insurers Beazley and Hiscox have joined forces to offer an extended 'investigation and inquiry' insurance, providing companies with enhanced cover for regulatory investigations at a time of heightened regulatory scrutiny. By providing cover before, during and after a shareholder class action, Entity+ significantly increasing the protection afforded to companies confronting the risk of prolonged regulatory scrutiny.

    Entity investigation cover

    Upon the filing of a securities class action against a company, the enhancement provides cover for costs incurred in response to related informal and formal investigations by, or in conjunction with, the Enforcement Division of the US Securities and Exchange Commission.

    Cover is also provided, on a coinsurance basis, for costs incurred in responding to the investigation prior to the launch of the securities class action ("look back coverage"), as well as those incurred once the securities action is resolved. This is in contrast to traditional solutions which only cover formal investigations that are concurrent with a securities class action.

    Additional cover

    In addition to entity investigation coverage, Entity+ also offers the following protections:

    • Plaintiff attorney fees cover in a derivative suit.
    • Defence costs for the entity as a nominal defendant in a derivative suit.
    • Books and records cover, with a sub-limit.
    • Explicit coverage for class certification fees.
    • Inquiry cover includes an insured persons attending interviews, meetings and providing documents in connection with (i) requests by court appointed trustees and liquidators and (ii) third party litigation against the company (in relation to non-indemnifiable loss) and (iii) internal investigations (also in relation to non-indemnifiable loss).
    • Inquiry cover includes sworn testimonies.

    1. FY 2015 and 2016 Budget Request by Program reports (www.sec.gov).

    Entity+ team

    Underwriters

    Steve Cheyne

    Underwriter - Management Liability

    Steve Cheyne

    London, UK

    +44 207 674 7818

    Adrian Jenner

    D&O Underwriter

    Adrian Jenner

    London, UK

    Rachel Turk

    Focus Group Leader and Underwriter

    Rachel Turk

    London, UK

    +44 207 674 7406

    Neal Wilkinson

    Head of Management Liability

    Neal Wilkinson

    New York, NY, USA

    +1 917 344 3357

    Claims

    Tracy Holm

    Specialty Lines International Claims Team Leader

    Tracy Holm

    London, UK

    +44 207 674 7294

    Yera Patel

    PCG & Management Liability Claims Team Leader

    Yera Patel

    New York, NY, USA

    +19173443356