This coverage is a must-buy for any organization that offers Services. These range from Technology companies, Law firms, Accounting companies, KPO, and BPO to Architects, Interior designers, and Consultants. This coverage is also required by Construction Professionals – Contractors, Principle, Designers, and consultants.
Our financial & professional liability practice helps you predict, represent, and control threats to their business. Our dedicated specialists keenly observe regulatory changes, economic trends, sector-specific exposures, and the client’s unique business exposures to advise on issues ranging from litigation to extortion to fiduciary so that the client can make well-informed decisions. We collaborate with the client and insurers on their business risks to effectively analyze and identify exposures and customize professional liability coverage to manage specific challenges and assist the client with every step of the underwriting and claims process, enabling them to conduct business with confidence.
We help protect them from one of the most overlooked, but potentially damaging, liability exposures in business today: Errors and Omissions (E&O). E&O, also known as professional liability insurance, is the core of an effective technology risk management strategy. We help identify the client’s specific exposures and structure a cost-effective, customized insurance program solution, that includes the appropriate type and limits of E&O insurance.
The Fidelity/Crime coverage can help protect the client’s your organization from loss of money, securities, or other property resulting from dishonest acts. It covers losses from employee dishonesty, as well as losses to third parties caused by theft, if endorsed.
People make an organization. However, honesty is a rare commodity these days. Employee Dishonesty Insurance and Bonds usually cover money stolen by an employee. However, there are far more risks than just money stolen, and they need mitigation. This insurance protects the client’s your company from for loss of money, securities, or other assets resulting from employee dishonest acts, third party frauds and social engineering frauds.
This risk exposure is applicable across industries and service sectors and for all big, medium, small enterprises. Our Crime and Fidelity advisory helps the client identify various types of losses incurred from stealing such as taking of the actual money, Check Fraud, Wire Fraud and Computer Fraud. We also counsel and design products to cover third party crimes, i.e., if the person taking money is not affiliated with the association, the client would still need to be covered.
Today, professional services firm need to steer in today’s complex risk environment and protect themselves against claims that can erode its professional credentials. In an era of increasing litigation trends and the fecund “blame and claim” culture that often saturates, it would not be wise for the client to assume their practice is immune from claims of malpractice or negligence. Error and Omission Policy is the terminology used when the coverage is offered to IT/ITES companies. For other service providers such as Lawyers, Doctors, Chartered Accountants, Consultants, the term Professional Indemnity Policy is used.
The coverage under the policy is to protect the companies against Legal Liability for breach of Professional duties for failing to provide acceptable standards of services, breach of contract, failing to perform services within the agreed contractual terms and conditions.
This policy can be opted by Individual service provider or at Company/Entity level. The risk analysis and coverage requirement is based on the market conditions and the legal environment in which the services are provided. The coverage wordings need to vary with the profession the client is in. This is a factor ignored by many insurance providers. We ensure that the client gets the right coverage and help them decide on the limit of indemnity so that their company and they are protected in the time of crisis
A public offering of securities to the public is a great step up for an expanding organization. Investors put their money on the company relying on the information and statements made in the Prospectus.
Liabilities may be incurred if there are error or omissions on the prospectus. The investors may sue for wrongful declaration that led to financial loss. This brings significant exposures, including greater scrutiny by regulators and heightened exposure to regulatory investigations. This insurance is a transaction specific policy and offers protection to Directors and officers, issuing underwriters, selling and controlling shareholders and advisors for any allegations regarding the information declared in the prospectus.
Our POSI advisory offers bespoke cover for public offerings including initial public offerings and debt or equity rights issues. It precisely counters the risks associated with the offering. Our well-calibrated product designs also help protect the client from the risks of transaction exposure, leaving the D&O policy to respond to “business as usual” risks faced by the directors.
We have vast experience working as a full-service insurance broking agency.
See some of the commercial insurances