As part of the WBN agreement, all members are required to have E&O / Professional Indemnity (PI) coverage with limits of USD2m any one claim and USD4m in aggregate.

Following a review, WBN consulted with Miller to understand if there were any other requirements to best protect its members and Worldwide Jurisdictional coverage was identified as a must have. Miller promptly engaged with the market to develop a solution and found that the inflexibility of global composite insurers meant they were not a viable option.

Turning to the London Lloyd’s and Company markets, Miller’s proposed solutions received far more interest and the ability to tailor programmes to each member’s needs was accepted.

The solutions

e and o diagram
WBN next steps diagram