FBD enters professional indemnity coverage with XL Catlin

FBD Holdings, Ireland's only publicly-quoted indigenous insurer, has entered the market offering professional indemnity and directors' and officers' liability coverage with global insurance provider XL Catlin.

Coverage under the two new lines will be underwritten by XL Catlin.

"The new product will sit alongside our existing products to address the needs of FBD commercial business customers in an area where we did not provide cover previously," said the Dublin-based company's chief executive, Fiona Muldoon.

Ms Muldoon, who worked for XL between 1993 and 2010 and ended up as group treasurer, said the insurance giant is “an acknowledged world leader” in the new lines being offered by FBD.

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Professional indemnity covers companies that offer professional advice in the event of negligence claims and cases being taken against them. Directors’ and officers’ liability insurance covers individuals and companies in the event of a legal action being brought against them.