Potential minefield.
While D&O policies do not usually respond to employment disputes, with the recent flood of employment legislation, many insurers are now rushing to re-word their policies in order to prevent any problems. Simon Threadgold investigates.
Company directors have their work cut out to keep up with employmentlegislation. Two important changes took effect last June. The length of
service needed before an employee can claim unfair dismissal was reduced
from two years to one and the maximum limit for compensation awards went
up from £12,000 to £50,000.
The effect will be to widen the scope for workers to take their case to
employment tribunals. More claims will be made and the average award will
increase.
The only question is, by how much
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