Directors and Officers Insurance

The concept of directors and officers being personally liable for their actions is globally recognised, with each country adopting a corporate law regime with the accountability of directors & officers specifically referenced. If your company’s directors or officers come under fire, are you prepared for business as usual? The Directors and Officers insurance (D&O Insurance) protects the personal liability of the head of a company against alleged misconduct when acting in their capacity as a key decision maker of a company, as well as any financial loss coverage from wrongful acts committed, or allegedly committed.

In Singapore’s increasingly litigious business environment, companies and their directors and officers are subjected to more onerous duties and responsibilities. They face a growing risk of legal action due to the management and business decisions they take. Moreover, increased supervision from the regulators and government authorities and potential litigation from breaches of the Securities and Futures have motivated directors and officers to take a more active interest in their company’s affairs.

Protect your directors and officers against financial exposure, investigations and court cases that are time-consuming and extremely costly. This policy protects you from claims made against you by a host of third parties – from shareholders to customers. It lets you focus on running the company instead of worrying over protracted litigation. In response to these evolving challenges, our policy wording provides protection for D&O. Our wording, combined with our market expertise, makes PromiseLand an attractive lead insurer for private, publicly listed, not-for-profit, and government-owned entities. Find out more about how we can provide the protection you need!

Most D&O insurance includes the following coverage:

1. Cover litigation brought on by stakeholders against directors and officers in a case of allegation of a breach of duty or breach of law
2. Cover litigation arising out of a broad range of day-to-day business activities
3. Provide umbrella cover to all the directors and officers of the holding company and all subsidiary companies with extension to joint ventures or associated company board positions
4. Cover all the current, past and future directors and officers on an unnamed basis or past wrong acts
5. Pay legal defence costs, including the advancement of defence costs as well as settlements and judgments awarded by the court for indemnified claims
6. Cover employment-related claims brought against the company
7. Cover securities claims brought against the company

Each organisation’s D&O insurance is customised according to our business needs and industry. Map out your D&O insurance with us today!