Directors and Officers Liability Insurance
• Pioneer Investcorp (PINC) is an India-focused integrated financial services company specializing in insurance advisory services
• A decade of experience in serving the needs of corporates across several industries such as
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Pharma, Healthcare, IT, Liability & BFSI.
• Registered
Broker
• PINC Group has a professional team of over 250+ members with a strong entrepreneurial mindset
• Presence across 8 cities – Mumbai | Delhi | Chennai | Bengaluru | Kolkata | Pune | Coimbatore | Ahmedabad
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Direct Insurance Comprehensive understanding of an array of product options and extensive risk analysis of the client with advisory services.
8. Credit Insurance 7. Liability Insurance
6. Employee Benefit Insurance
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7 Classes Handled
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5. Miscellaneous
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Recent Transactions Structured , designed and placed a comprehensive Marine Stock through put insurance for a Retail conglomerate .
1.Property & Project Insurance
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2. Marine Comprehensive Insurance
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3.Oil & Energy Insurance
This involved extensive analysis of existing risk profile of the corporate and ensuring a through the value chain
4. Aviation Insurance
Our Approach
Understandin g Client Business Strategies
Risk Evaluation & Management
Structuring Insurance Programs
Seeking Quotes & Placement
Claims Handling
AGENDA What is Directors and Officers Liability Insurance? Why is it required Key Features Key Exclusions Who can bring action against Directors and Officers? Who does the cover apply to? Directors and Officers of the company are protected from
About Directors and Officers Liability Insurance • It provides cover for the personal liability of Directors and Officers arising due to wrongful acts in their
About managerial capacity.Us
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alleged breach of duty, neglect, misstatements or errors
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Why is it required? • Vulnerability to shareholder/stakeholder claims • Sexual harassment, discrimination allegations, employment practice violations • Regulatory investigations • Accounting irregularities • Exposures relating to mergers and acquisitions • Corporate Governance requirements • Compliance with various legal statutes
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Key Features • Advancement of Defence costs • Claims made principle: claims must be made during policy period • Right to defend cover • Cover for Subsidiaries • Outside Directorship coverage • Cover for Retired Directors • Employment Practice Liability (EPL) cover for directors and officers • Cover for failure / negligence to supervise against any Professional Indemnity related claims • Cover for Regulatory Crisis Response
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• Cover for Assets and Liberty Costs including prosecution, bail bond and civil bond expenses • Cover for damage to reputation • Cover for Heirs, Estates and Legal Representatives • Bilateral Discovery Period • Emergency Costs cover • Kidnap response cover • Special excess protection for nonexecutive directors • Cover for pollution related claims for defence costs and shareholder claims • Insured vs Insured (defence cost cover) • Severability: non-guilty insured is covered
Key Exclusions • Prior Claims and Circumstances. • Deliberate dishonest or fraudulent act • BIPD claims with carve back for defence cost
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Key Exclusions
Human resources slide 3 Prior Claims and Circumstances
Deliberate dishonest or fraudulent act
BIPD claims with carve back for defence cost
Who can bring action against Directors and Officers
• Employees
• Suppliers
• Customers
• Competitors
• Shareholders
FR • Regulators
• Other stakeholders
Who does the cover apply to? • Former, present and future members of the board of directors • Management • Any employee performing a managerial or supervisory role
FR
• • • • •
To protect the Directors and Officers from Employment Practice litigations Regulatory investigations Customer suits Accounting irregularities Other stakeholder claims
FR
Thank You
Disclaimer The information and material provided in this presentation do not constitute an offer or solicitation for the purchase or sale of any security and financial instrument. The information may be obtained from various sources and PINC and/or its affiliates do not represent that the information is accurate or complete, and it should not be relied upon as such. PINC accepts no liability whatsoever for any direct or consequential loss arising from the use of this material or its contents. All estimates and opinions provided herein constitute the original researcher’s judgment as of the date of the report and may be subject to change without notice. PINC will not be responsible for the consequences of reliance upon any opinion or statement contained herein. The returns on the products discussed in this material are not guaranteed by any bank unless specifically stated and are subject to investment risks, including possible loss of the principal amount invested. An investment in any product should be made only after careful study of the most recent sales prospectus, term sheets, relevant fund regulations and basic legal information contained therein. Furthermore, investments in foreign currencies are subject to exchange rate fluctuations. Before entering into any transaction, you should consider the suitability of the transaction to your particular circumstances and independently review (with your professional advisors as necessary) the specific financial risks as well as legal, regulatory, credit, tax and accounting consequences.