Embezzlement occurs when a trusted individual, such as a finance executive, misuses or steals company funds for personal gain. Examples include: – Pocketing cash receipts – Unauthorized transactions – Misusing company credit cards – Creating fake invoices or accounting entries This financial crime can lead to severe penalties, including fines and imprisonment. Businesses can protect […]
Dear HR Team, do you know about Blacklisted Hospitals? – A Must-Know piece of information for your Employees Prologue: Nowadays, we are getting claims repudiated by insurers citing admissions taken in blacklisted hospitals. Most of the time, this rejection happens in reimbursement claims as the employee gets admitted unaware of this condition. It is important […]
Contractual Liability (Obligation) Insurance Policies In today’s competitive corporate world, all businesses have contractual obligations. It is inevitable that you need to adhere to the compliance requirements of your clients. In this regard, you have to purchase a few insurance policies that will help you and your clients in case there is litigation or disagreement […]
Case Study: The Cost of Delay in Purchasing Cyber Insurance Background: Recently, one of our clients experienced a ransomware attack that severely disrupted their operations. Prior to the incident, their management believed that a USD 1 million (INR 8.5 crore) cyber insurance cover was unnecessary. Incident Summary: Following the attack, the same client urgently sought […]
Tenants Legal Liability: Is Your Business Running in a Rented Premises? Then You Should Know This: What if a fire happens in your commercially rented premises, and you are held responsible by the landlord? The common risk in the workplace is a fire accident, which can occur due to your employee’s negligence or poor maintenance […]
Can Employers Be Liable if an Employee Commits Suicide? Recently, I received a call from one of my clients’ HR department, informing me that their employee had committed suicide. The employee’s dependents were blaming the company for putting undue pressure on the employee, which allegedly led to stress and depression, ultimately resulting in his death. […]
Do you know that Cyber Security risk can be covered under a Tech E&O policy? Nowadays, almost all clients require cyber security insurance as part of their contractual requirements with Indian businesses. However, taking a stand-alone cyber policy in India is becoming increasingly difficult and costly due to the recent surge in cyber-attacks. Stricter […]
This is an important policy for organisations particularly startups to manage the setback of losing a critical employee. What is Keyman Insurance Policy? When a company feels that the loss of certain employees can significantly impact its performance, then it purchases a Keyman Business Insurance Policy where: · The policy is proposed by the company · Premium […]
In the scenario of Fraudulent Advice & Employee Absconding, where an employee of a financial advisory firm deliberately provides fraudulent investment advice and subsequently absconds, a standard Professional Indemnity (PI) policy would typically respond. Coverage may be triggered under the “Employee Dishonesty” or “Fraud” extension of the policy, potentially indemnifying the firm for: – Legal […]
Professional Indemnity Insurance: Your Shield Against Professional Negligence Claims Delivering high-quality services is expected, but mistakes can happen. Protect yourself and your business from professional negligence claims with PI Insurance. It covers: – Legal costs and defense fees – Compensation and damages – Reputational damage – Breach of confidentiality – Misrepresentation Why You Need PI […]