Commercial Crime Insurance is a policy designed to protect businesses from financial losses arising due to criminal acts committed by employees, outsiders, or third parties. These crimes directly impact a company’s money, securities, and other valuable assets, and are often not covered under standard property or liability insurance. What it covers: Employee Dishonesty: Losses caused […]
Group Term Life Insurance is a type of life insurance that provides coverage to a group of people, usually employees of a company or members of an organisation, for a specified period (term). Key Features: 1. Group Coverage: Covers a group of people under a single policy. 2. Term-based: Coverage is provided for a specified […]
Client data loss can happen due to various reasons like cyber attacks, accidental deletion, or system failures. E&O Insurance acts as a safety net, covering costs associated with: – Notifying affected clients – Providing credit monitoring services – Legal fees and settlements – PR efforts to restore reputation It helps businesses manage the financial impact […]
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 […]
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 is crucial for workplace disputes as it shields directors and officers from personal financial risk. It covers legal costs, settlements, and damages related to employment-related claims, allowing leaders to manage disputes effectively without fear of personal financial loss. Some common workplace disputes covered by D&O Insurance include: – Wrongful termination claims – Discrimination […]
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 […]
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 […]