0800 015 1533   iod@quantumplc.com

Carefully chosen, specially negotiated for IoD Members

What do the policies cost?

Corporate policies providing £1m of cover, most policies cost as little as £535 per annum. This is for an established business showing a profit (or positive net worth) and includes the IoD member’s specially negotiated discount of at least 5%. Most legal forms of organisation including LLP’s, charities and ‘not for profit’ can be catered for.

The most important underwriting factors that will affect the availability of cover and the price are:

• The company's age and recent financial health

• The exact nature of the company's business activities

• The geographical locations in which the company is located

If the organisation has been established for more than two years and has submitted formal accounts to Companies House we are only likely to need the company’s registration number in order to provide a quotation and immediate cover can be arranged.

Individual policies costs vary dependent on the number of directorship companies for which cover is sought. There are various discount categories and the table below provides a summary of the premiums.

The premium Chubb charges for an Individual Director's Liability Policy depends on the number of director or officer positions for which you seek cover and on whether or not you qualify for a discounted rate (only one discount applies). The matrix below shows the monthly premiums and all rates are inclusive of insurance premium tax at the current rate.

£1 Million Limit of Indemnity

Number of Directorship Companies for which cover is purchased IoD Member (25% discount) IoD Diploma Holder (30% discount) IoD Fellow (35% discount) Chartered Director (35% discount) Non IoD member premium *
1 £37.19 £34.71 £32.23 £32.23 £49.58
2 £55.78 £52.06 £48.35 £48.35 £74.38
3 £74.38 £69.42 £64.46 £64.46 £99.17
4 £92.97 £86.77 £80.58 £80.58 £123.96
5 £111.57 £104.13 £96.69 £96.69 £148.75
6 - 20 (Maximum) £130.16 £121.48 £112.81 £112.81 £173.55

£2 Million Limit of Indemnity

Number of Directorship Companies for which cover is purchased IoD Member (25% discount) IoD Diploma Holder (30% discount) IoD Fellow (35% discount) Chartered Director (35% discount) Non IoD member premium *
1 £59.66 £55.68 £51.70 £51.70 £79.54
2 £89.87 £83.88 £77.89 £77.89 £119.83
3 £119.31 £111.36 £103.41 £103.41 £159.08
4 £148.75 £138.84 £128.92 £128.92 £198.34
5 £178.97 £167.04 £155.11 £155.11 £238.63
6 - 20 (Maximum) £208.41 £194.52 £180.62 £180.62 £277.88

* If you become an IoD member once your policy has commenced then you will qualify for the appropriate discount immediately upon notifying Quantum.

Tax Position
The entire cost of your policy is an allowable P11d expense so you can instruct your accountant to claim tax relief on all premiums. We will even provide an annual premium summary for you to give to your accountant.