A variety of industry media shared the news of BLM's D&O Fines Tracker launch this month.
Key highlights from the data included:
- Over £100 million in fines handed out to UK SME’s in the last four years
- Large fines, over £50,000, for cyber liabilities are on the rise
- Increased risk highlights the need for SMEs to seek advice from brokers and insurers for Directors & Officers cover
- BLM D&O tracker provides fines and penalties with data broken down by company turnover, sector, breach, regulator and jurisdiction
Click the names of the publications to read full articles in Insurance Business and Business Matters.
Insurance Insider, CIR Magazine and Commercial Risk Europe. (subscriptions required)
The D&O Tracker, which is free for insurers, brokers and corporates to access, captures fines from four major UK regulators, including the Serious Fraud Office, Financial Conduct Authority and the Information Commissioner’s Office. It also records compensation and legal costs orders, as well as the term of any custodial sentences against directors.
For more information about the Tracker, click here.