The Association of Investment Companies has updated its guide on D&O insurance. This guide was first published in 2006. Its scope has now been broadened to take into consideration the legal requirements for insurance arrangements in Guernsey and Jersey and to provide more practical guidance, for example in determining the appropriate level of cover. There are currently over 40 different D&O insurers operating in the UK which, whilst similar, do not necessarily follow any standard policy wordings or terminology.