Financial services

National Housing Federation Directors’ and Officers’ Liability Insurance through FARR

The Directors' and Officers' Insurance that you receive as part of your National Housing Federation membership provides a very wide scope of cover, including:

• Professional Indemnity cover for board or committee members up to £500,000 any one claim but limited to £5 million across all member Associations
• Libel and slander
• Pension Trustees Liability – also includes other employee benefit programmes
• Employment Practices Liability – protection for individuals against actions following alleged employment practice violation
• Outside Directorships – cover for any individual acting as a director or officer within a third party organisation
• UK pollution defence cost cover continues up to £500,000 per claim, subject to an aggregate limit of £2.5 million across all member Associations
• Limited Entity cover – the Association is covered for certain wrongful acts, but not those arising from professional or contractual liability or employment practices
• Full cover for all Subsidiary companies of Federation members.

The limit of indemnity is £5,000,000 any one claim, with an aggregate limit of £30,000,000 for all claims made during the insurance year (which runs from 1 April).

FARR, who place the insurance programme on behalf of the Federation, monitor the number and cost of claims reported. FARR and the Federation will not disclose information on individual claims due to confidentiality issues, but have agreed to report to all members if claims in total against any year exceed 10% of the aggregate limit of indemnity.

This commitment means that, in the event of a significant level of claims being reported, members could make an informed decision on whether or not their protection is materially impaired and if further cover should be purchased.