Design Error Claims: How E&O Insurance Can Help Design errors can lead to costly claims and damage to reputation. Errors & Omissions (E&O) Insurance provides protection against such claims, covering: 1. Design flaws: Errors in design, specification, or calculations 2. Omissions: Failure to include necessary components or details 3. Professional negligence: Failure to meet industry […]
Scenario Explained: A board member is involved in a conflict of interest, approving a major contract with a supplier where they have a personal financial stake. This is a clear breach of their fiduciary duty to the company and its shareholders. As a result, other shareholders take legal action against the board member, alleging improper […]
What is D&O Insurance? D&O Insurance, or Directors and Officers Liability Insurance, is a type of insurance that protects the personal assets of a company’s directors and officers in case the company is sued or faces financial difficulties. Why is it important? When a company fails, its directors and officers can be held personally liable […]
D&O Insurance, or Directors and Officers Liability Insurance, is a type of insurance that shields directors and officers of a company from financial losses if they’re sued for their actions or decisions made on behalf of the company. It covers: – Legal fees and defence costs – Settlements and damages – Regulatory proceedings and investigations […]
The Impact of Financial Turmoil on Startups (D&O Insurance) Financial turmoil can significantly affect startups, making it challenging to navigate business operations. Directors and Officers (D&O) Insurance plays a crucial role in protecting startups from financial risks. Key Challenges: – Financial Instability: Economic downturns can lead to reduced funding, cash flow issues, and increased financial […]
Commercial General Liability (CGL) insurance is a type of policy that protects businesses from various liability risks, such as: 1. Bodily injury or property damage to customers, clients, or third parties. 2. Advertising injuries, like slander or copyright infringement. 3. Medical expenses for accidents on business premises. CGL insurance helps cover legal fees, settlements, and […]
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 […]
Do you know, it is mandatory by IT Act to report a cyber-attack to CERT -In! Who is CERT – In? The Indian Computer Emergency Response Team, it is formed as per the IT (Information Technology) act 2000 and they shall be a part of and function under the administrative control of Department of Electronics […]
Case Study: Impact of Underinsurance on Fire Claim Settlement Background: In December 2021, one of our apartment clients reported a fire accident that occurred in the basement electrical board room. The estimated loss was approximately ₹75 lakhs. The apartment was insured under a Fire Insurance Policy with a sum insured of ₹100 crores. Incident Summary: […]
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 […]