DIRECTORS AND OFFICERS INSURANCE IN SINGAPORE
Directors and Officers (D&O) Insurance is an important type of insurance policy designed to protect directors, officers, and key employees from legal liability arising out of their actions as company representatives. Though D&O coverage is not mandatory; it can provide much-needed protection for both the business and its key decision makers.
WHAT IS DIRECTORS AND OFFICERS INSURANCE?
D&O insurance is a policy protecting 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.
Looking at starting a small business in Singapore or already own one? Find out more about our Directors and Officers insurance and its related costs by connecting with our team at Expat Insurance. This type of insurance policy usually offers coverage and protection for executive directors and officers or, more generally, corporate officers – anyone that is put in charge of making decisions. D&O insurance can protect them from any claims or investigations made against them as well as decisions that are carried out while they are acting as director or officer. All past, present, and future directors are covered by this policy as well.
Operating a business in cosmopolitan Singapore would often mean that your company is likely to operate with international partners. A company conducting business outside of Singapore is one that is subject to a different set of rules and laws. When your company goes global, a D&O insurance policy can help you by making sure that any business decisions made abroad are protected as well. Contact us to find out more about the different business insurance plans we offer and their associated costs. Our dedicated insurance experts will be happy to guide you on our other products, ranging from professional indemnity insurance to SME insurance packages.
WHAT ARE THE MOST COMMON D&O RISKS?
Here are a few frequently encountered directors and officers insurance claims:
- Negligence of duties such as failure to file reports or embezzlement of funds.
- Improper management of company finances.
- Failure to comply with workplace laws such as wrongful dismissal or discrimination.
- Theft of intellectual property.
- Employment or HR issues that apply to the person only.
Need a more thorough discussion? Contact us today.
NEXT STEPS TO WORK OUT A D&O INSURANCE PLAN WITH EXPAT INSURANCE
Interested in mapping out your D&O insurance with us? Indicate your interest by filling up our online form below and allow our team to get back to you within a day. With our network of leading insurance providers in Singapore and beyond. Through Expat Insurance, you’ll be able to get some of the best insurance policies and services out there.
DOES DIRECTORS & OFFICERS SOUND LIKE SOMETHING YOU NEED?
Do you have the right Directors and Officers cover for your business? Get in touch with our team today and we’ll help you and your business stay protected.
DOES A DIRECTORS & OFFICERS INSURANCE PLAN SOUND LIKE SOMETHING YOU WOULD NEED?
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