If you are a director or officers in your business, you are vulnerable and legally responsible for allegations of wrongful acts on your company. Directors & officers liability insurance protects you from third party claims from customers, business partners or shareholders etc.
This allows directors and officers to focus on running the business and concentrate on their job.
Directors and officers liability can cover the personal liability and financial loss coverage from alleged wrongful acts in the company, as well as the costs to fight these allegations. Such coverage may cover
Do note that intentional illegal or wrongful acts are not covered as the intentions are malicious.
Yes, especially in Singapore. The law has changed recently such that directors are no longer separate from the entities of private limited corporations. Third parties can seek legal recourse from directors if they are alleging wrongful acts done by the companies.
Singapore is a hub in Asia Pacific, and has extradition treaties with numerous big trading partners. Legal action can be brought fore to the courts of Singapore against a Singapore registered business.
Due to numerous factors involved, the rates are usually not fixed in a single package form and should be customised if possible. This help to ensure you are not paying extra for factors that you may not require too.
Do contact us and we can establish the factors before creating a good customised package with competitive quotes.