Insurance
Liability Insurance
Public Liability Insurance
What does it cover?
This policy covers sums which you shall become legally liable (due to negligence) to pay compensation in respect of:
1. Third Party Bodily injury (TPBI)
2. Third Party Property Damage (TPPD)
Also covers all costs and expenses of legal action:
- Recovered by any claimant against you.
- Incurred with our written consent.
Key Coverage
This policy covers your legal liability to a third party as a result of an accident that happens during the period of cover in connection with your business operations and within the territorial scope.
Basic of Sum Insured
1. Estimated Maximum Loss:Â To estimate the maximum potential loss that could arise from a single incident.
2. Aggregate Limit:Â To estimate an overall limit on the total amount of coverage available during a policy year. This means that if multiple claims occur during the year, the total amount paid out cannot exceed the aggregate limit.
3. Contractual Requirement: To cover on the limit stipulated in a contract.
What We Don't Cover
Note:Â
This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.
- Liability assumed by agreement
- Liability to pay compensation under Worker’s Compensation Act
- Liability in respect of loss or damage to your own property or property under your custody, care and control
- Liability caused by vibration
- Liability arising from fire, earthquake, explosion, flood, fumes, pollution and contamination
- Pure financial loss
- Fines, penalties, punitive and exemplary damages
- War risks and any act of terrorism
- Radioactive and nuclear energy risks
- Claims arising from ‘Latex Protein Toxic Syndrome’ and Asbestos
Directors & Officers Liability Insurance
What does it cover?
Protects your company director and officer of your company against any Wrongful Act actual or alleged to have been committed whilst acting in your capacity of Director, Officer or Employee of the Company during policy period.
Key Coverage
This policy provides financial protection to the directors and officers in the event they are personally sued for wrongful acts committed during the performance of their duties. This policy covers legal fees, settlement and judgment awarded.
We will pay on:
- Your behalf all Loss resulting from a claim first made during the policy period against you for a wrongful act except for and to the extent that your company has indemnified you and is legally required or permitted to indemnify you under applicable laws.
- Behalf of your company all Loss resulting from claim first made during the policy period against you for a wrongful act to the extent the your company has indemnified you and is legally required or permitted to indemnify you under applicable laws.
- Your behalf all Legal Representation Expenses in respect of an investigation, except for and to extent your company has indemnified you and is legally required or permitted to indemnify you under applicable laws.
- Behalf of your company all Legal Representation Expenses in respect of an investigation, to the extent that your company has indemnified you and is legally required or permitted to pay you as advancement or indemnity under applicable laws.
Basic of Sum Insured
1. Estimated Maximum Loss:Â This method involves estimating the maximum potential loss that could arise from a single incident.
2. Aggregate Limit:Â This method sets an overall limit on the total amount of coverage available during a policy year. This means that if multiple claims occur during the year, the total amount paid out cannot exceed the aggregate limit.
3. Per Occurrence Limit:Â This method sets a specific limit on the amount of coverage available for a single claim.
What We Don't Cover
Note:Â
This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.
- Intentionally illegal acts
- Dishonesty of employees
- Any personal profit or advantage gained by an Insured to such Insured was not legally entitled
- Pollution
- Any pending or prior litigation or proceeding
- Any fact, circumstances, act, omission, claim, wrongful act
- Asbestos
- War
- Terrorism
Professional Indemnity Insurance
What does it cover?
It is a policy covers you for breach of your professional duty by reason of any negligent act, error or omission, and the cost and expenses incurred with our written consent in the defence or settlement of any claim to which the policy applies.
Covers you for claims brought against:
- You,
- Your partner,
- Your employee,
due to your professional negligence by reason of any:
- negligent act,
- error,
- omission,
whether committed or alleged to have been committed
Key Coverage
Cover includes:
- Breach of your professional duty by reason of any negligent act, error or omission.
- The cost and expenses incurred with our written consent in the defense or settlement of any claim to which the policy applies.
Basic of Sum Insured
1. Estimated Maximum Loss:Â This method involves estimating the maximum potential loss that could arise from a single incident.
2. Aggregate Limit:Â This method sets an overall limit on the total amount of coverage available during a policy year. This means that if multiple claims occur during the year, the total amount paid out cannot exceed the aggregate limit.
3. Per Occurrence Limit:Â This method sets a specific limit on the amount of coverage available for a single claim.
What We Don't Cover
Note:Â
This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.
- Dishonesty of employees
- Bodily injury & property damage to third party
- Pollution
- Insolvency or bankruptcy
- Failure to comply with the time limits
- Claim caused by poor workmanship and/or material
- Libel & slander
- Loss of documents
- Liability assumed
- Fines, penalties, punitive damages or exemplary damages
- Joint venture works
- Asbestos
- Toxic mould
- War
- Terrorism
Product Liability Insurance
What does it cover?
It is a policy that protects you as the manufacturer, supplier or distributor of the insured products.
Key Coverage
Cover includes:
- Bodily injury or property damage arising out of products manufactured, sold or distributed by your company or by others trading under your company’s name.
- Claims arising from the defective manufacturer, incorrect labeling, erroneous instructions, inadequate warnings or defective packing materials.
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You are covered for:
- Bodily injury to third party
- Property damage to third party
arising out of products manufactured, sold or distributed by your company or by others trading under your company’s name
Basic of Sum Insured
1. Estimated Maximum Loss:Â To estimate the maximum potential loss that could arise from a single incident.
2. Aggregate Limit:Â To estimate an overall limit on the total amount of coverage available during a policy year. This means that if multiple claims occur during the year, the total amount paid out cannot exceed the aggregate limit.
3. Contractual Requirement: To cover on the limit stipulated in a contract.
What We Don't Cover
Note:Â
This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.
- Aircraft products
- Asbestos
- Contractual liability
- Damage to impaired property or property not physically insured
- Damage to property
- Damage to your products
- Expected or intended injury
- Fines, penalties, punitive and exemplary damages
- Nuclear energy
- Personal injury
- Pollution
- Professional liability.
- Recall of products or impaired property
- War
- Terrorism.
- Product guarantee/warranty
Employer's Liability Insurance
What does it cover?
It is a policy which covers you as an employer from your legal liability to pay compensation for bodily injury and illness to employees arising in the course of their employment.
Key Coverage
Liability coverage
Covers you as an employer from your legal liability to pay compensation for:
- Bodily injury and illnesses of employees arising in the course of their employment.
- Loss of or damage to property belonging to a third party.
This is in the event of:
- Negligence by you or your employees.
- Defects in the premises.
In addition, it covers you for:
- Cost and expenses incurred by you with the company’s written consent.
- Cost and expenses recovered by a claimant.
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Cover for employer’s liability
Indemnifies you against legal liability to pay compensation, cost and expenses to employees for accidental bodily injury or illnesses arising out of or in the course of employment. 
The policy covers your and your employees’ negligence.
Basic of Sum Insured
1. Fixed Limit: The insurer sets a specific maximum limit for each claim or for all claims during the policy period.
2. Per Employee Limit: A separate limit is set for each employee, and the total coverage is the sum of these individual limits.
3. Aggregate Limit: An overall limit is set for all claims during the policy period, regardless of the number of employees involved.
What We Don't Cover
Note:Â
This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.
- Liability assumed by agreement
- War, civil war and any act of terrorism
- Radioactive and nuclear energy risks
- Claims arising from ‘Latex Protein Toxic Syndrome’ and Asbestos
Factors to Consider (When Determining the Sum for ELI)
Note:Â
This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.
Nature of the business: The type of industry and the potential risks involved.
Number of employees: The more employees, the higher the potential for claims.
Severity of potential claims: The potential for large claims due to the nature of the work or the location of the business.
Financial capacity:Â The ability of the employer to absorb potential losses.
It’s important to note that the sum insured should be sufficient to cover the potential costs of claims, including legal fees, medical expenses, and compensation payments.
Errors & Omissions Insurance
What does it cover?
This policy covers for any Wrongful Act (any act or omission, including error, misstatement, neglect or breach of duty, breach of trust or breach of warranty of authority) whenever or wherever committed or alleged to have been committed.
Key Coverage
This policy will indemnify you up to but not exceeding in the aggregate of all claims under this Policy the sum stated in the Schedule, against any claim or claims which may be made against you during the Period of Insurance specified in the Schedule for any Wrongful Act (any act or omission, including error, misstatement, neglect or breach of duty, breach of trust or breach of warranty of authority) whenever or wherever committed or alleged to have been committed by
i) you or
ii) your predecessors in business or
iii) any person at any time employed by you or such predecessors in business
in the conduct, by or on behalf of you, or such predecessors, of any business conducted in their capacity in the business/profession stated in the Schedule during the Period of insurance or on or after the retroactive date; and to
pay the cost and expenses incurred with the written our consent in defense and settlement of any such claim.
Basic of Sum Insured
1. Estimated Maximum Loss:Â This method involves estimating the maximum potential loss that could arise from a single incident.
2. Aggregate Limit:Â This method sets an overall limit on the total amount of coverage available during a policy year. This means that if multiple claims occur during the year, the total amount paid out cannot exceed the aggregate limit.
3. Per Occurrence Limit:Â This method sets a specific limit on the amount of coverage available for a single claim.
4. Contractual Requirement: To cover based on specific contract requirement
What We Don't Cover
Note:Â
This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy.
- Cyber Risks
- Assumed Liability
- Property in Custody
- Intellectual Property
- Aircraft & Watercraft
- Asbestos
- Pollution
- Radioactivity
- Prior or Pending
- Consequential loss and pure Financial loss
- Products Liability
- Public Liability
- Fines, Penalties and Punitive Damages