Legal proceedings for negligent advice and/or services are not restricted to the traditional professions such as law, medicine, accounting or architecture. The everyday activities of your company and your people can leave you exposed. The provision of services and offering of advice can leave you open to allegations of negligence and the ever-increasing possibility of civil action against your company or its employees. To help protect your company against such allegations, we are able to offer a tailored Professional Indemnity Policy to suit your needs.
There has also been a global trend of increased claims against Directors and Officers in recent times. Directors and Officers liability insurance has become an integral part of the insurance programmes of many companies which is due to the increasingly onerous nature of duties and responsibilities placed on directors by common law and the Companies Ordinance. The rate of reform in the law, includes a regime of continuously changing disclosure requirements. A wide range of actions can be brought by any number of parties; shareholders, customers, creditors, competitors and government regulators, such as the Securities and Futures Commission. A protracted dispute could place the financial well-being of your company and its Directors and Officers at risk. One factor which is not always accorded the proper weight, is the often prohibitive cost of defending allegations brought against individual Directors and Officers. Irrespective of the merits of the litigation, a Director or Officer needs to be able to fund his / her defence.
These policies should be considered an integral part of any comprehensive Professional Risks program.
- Asset Managers
- Corporate Service Providers
- Information Technology
- Recruitment & Staffing