We give you the protection you need, so that you can grow your business. In business a single omission can lead to costly legal fees and a compensation payment if a client suffers a financial loss. With our covers such as Professional indemnity insurance, we protect your business from claims.
In a recent spate of ligitation, a number of adverse court verdicts regarding the liability of Directors and Officers of companies to a third party were passed where the directors and officers were held personally liable for payment of compensation to the third party.
The Directors and Officers are bound by duty towards the company itself, shareholders, employees, creditors, customers, competitors, members of the public, government and other regulatory bodies.
With increasing statutory duties and the willingness of plaintiffs to seek redress, any breach or non-performance in the duties can result in claims against the companies and/or Directors by reason of any wrongful act in their respective capacity.
Directors' and Officers' Liability Insurance policy has been designed specifically to meet any financial liabilities imposed upon them. This policy is necessary for Directors and Officers of every company if they wish to avoid potential litigation owing to:
- Failure of supervision,
- Inaccuracy in statements of financial accounts
- Lack of judgement and good faith,
- Mismanagement of funds,
- Mis-statements in prospectuses,
- Allotment of shares
- Unauthorised loans or investments,
- Imprudent expense resulting in a loss,
- Using inside information,
- Unwarranted dividend payment, salaries or compensation,
- Misleading statements filed with the stock exchange,
- Misrepresentation in acquisition agreement for the purchase of another company,
- Wrongful dismissal of an employee.
Employers Liability policy insures the legal liability of the employer towards employees for personal injury by accident or disease that may occur during and in the course of employment with the insured.
Such insurance suplements the benefits afforded under the National Pension scheme (NPS). The employer's liability towards employees who are not eligible for NPS benefits may be insured under Workmen's Compensation Insurance.
Individuals in their private capacity, may also insure their liability towards domestic servants under a Domestic Servants policy.
Law holds everyone responsible for the consequences of negligent or careless acts and heavy damages may be awarded for personal injury or damage to property caused by negligence or carelessness.
Persons, even in their capacity as private individuals, are legally responsible in this way for injuries to persons or damage to property which could arise from cause such as:
- stepping off the footpath or crossing the road so incautiously as to compel a vehicle to swerve on the pavement or into another vehicle,
- carelessly carrying an umbrella or parcel or disposing of a lighted cigarette or match,
- not having a dog under proper control or by a dog biting someone, whilst playing games such as football, golf, hockey, bowls.
The Family Public Liability Policy issued by the Company indemnifies private persons in respect of such liabilities and law costs in the defence of claims made against the Insured.
The Policies would only apply for the benefit of persons normally and customarily resident with the Insured as specified and includes the risks of cycling and horse-riding for pleasure use.
Products Liability policy insures the legal liability for claims against the Insured raised by third parties during the period of insurance due to injury or damage caused by a product or its containers made by or sold by the latter.
Professional Indemnity Insurance provides essential financial protection for a wide range of professional bodies. In the event that a client suffers financial loss as a result of alleged neglect, error or omission, Professional Indemnity Insurance will meet the cost of defending claims and any damages payable.
Any person who gives advice, designs, or offer similar services in a professional capacity are liable to be sued by clients if they feel that they have received sub-standard service. The need for Professional Indemnity Insurance has never been greater.
While some professional people see Professional Indemnity Insurance as an expensive and unnecessary overhead, we know from experience that any professional negligence can produce substantial claims. Court awards have risen sharply in recent years. Without insurance, the financial security of a business is threatened.
Public Liability policy insures accidental bodily injury to a third party caused by the Insured in course of business and accidental loss of or accidental damage to property owned by third parties caused by the Insured in course of business.
Public Liability also covers the costs of defending claims.