Aurora, a digital commercial insurance platform, has announced the launch of its second specialist product, the Management Liability Policy (MLP), in partnership with AXA. According to a news release, this new offering aims to address the increasing risks that businesses face in today’s volatile market and provide comprehensive protection and risk management support.
The MLP product is divided into three distinct sections, covering directors’ and officers liability, employment practices liability, and corporate legal liability. It offers a range of key features, including protection against regulatory intervention, employment claims, pension issues, contract disputes, data protection breaches, and GDPR violations.
Aurora also noted that their algorithmic approach to underwriting allows the platform to provide significant liability limits, which will enable businesses to obtain the coverage they need quickly and efficiently. The policy will include additional risk management insights and support through rradar, a legal consultancy firm, which the company promises to help clients understand and mitigate potential risks.
Jan-Vincent Finn (pictured), Aurora’s co-founder and chief executive, highlighted the importance of supporting clients in understanding their risks in a statement. “Businesses have never been as vulnerable as they are today. Working in close partnership with our partner, AXA, we believe we are able to offer our clients market-leading protection.
“Whilst being able to provide a greater level of insight and education. Supporting our clients better understand the risks they face and through rradar; guidance and support to mitigate their exposures.”
Aurora is a digital managing general agent (MGA) that caters to micro, small, and medium businesses, offering insurance products for over 700 trade types. The company boasts an algorithmic underwriting framework that promises to help simplify the process of buying commercial insurance and at the same time, broking partners benefit from real-time analytics and data-driven insights.
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