Qian Insurance Broking LLP Providing the best Directors and Officers (D&O) Liability Insurance Policy Solutions in India
Qian Insurance Broking LLP is making available the most affordable insurance policy to the company officers and directors who need coverage for the defence costs and damages occurring due to any wrongful acts.
Press Release (ePRNews.com) - Mumbai - Jan 06, 2022 - Qian Insurance Broking has emerged as a leading insurance broking firm in India offering commercial and personal insurance solutions to its clients.
The broker’s range of offerings includes home insurance, travel insurance, motor insurance, health insurance, employee benefits, and marine cargo insurance.
There are also many kinds of commercial insurance, such as Key Man Insurance Policy, Industrial All Risk Insurance Policy, Erection All Risk Insurance, Contractor’s All Risk Insurance Policy, Fire Loss of Profit Insurance Policy or Business Interruption Insurance Policy, Factory and Warehouse Insurance Policy, and Standard Fire and Special Perils Insurance Policy.
Qian also assists its clients for their liability insurance requirements such as for Directors and Officers Liability Insurance, Commercial General Liability Insurance Policy and Product Liability Insurance.
While addressing a brokers’ meeting, the spokesperson of Qian Insurance Broking stated, “We seek to understand the risks faced by our clients and actively look to mitigate such risks by providing comprehensive insurance solutions.
Today litigations against the directors and officers of the company are on the rise and that has made the choice of obtaining a comprehensive directors and officers insurance policy of paramount importance. Today, a Director or Officers of a company can be sued by shareholders for breach of fiduciary duty or by employees for workplace discrimination or wrongful termination. Consumers may sue the company for misleading advertisements and unfair trade practices.
Unfortunately, such claims are only on the rise and require significant financial resources on part of the director or officer to defend such claims in courts. Additionally, in the event of an adverse judgement, personal assets of the directors or officer may be at risk and may result in financial stress as well.
To secure themselves against such cases, organisations must provide a Directors and Officers Liability Insurance Policy for their directors and officers. A Director’ and Officers Liability Insurance Policy covers the liability on account of the wrongful or negligent acts committed by directors and officers in their managerial capacity. Such wrongful acts may include breach of duty, breach of trust or misleading claims or misstatements”w
Organisations must avail a D&O policy insurance to cover their directors and officers against claims of wrongful acts. A D&O Policy will provide cover for defence costs and damages that the company directors or officers become legally liable to pay to the third parties on account of the financial loss caused by their wrongful acts. A D&O Insurance Policy Coverage includes cover for, defence costs and compensatory damages incurred by the insured. Additionally, a D&O Policy provides coverage for subsidiaries and retired directors.
The spokesperson also shared, “Some common cases where D&O insurance could be useful are employee-related cases where an employee sues a director for wrongful termination, discrimination or sexual harassment.
Customers may also sue the companies in courts for misleading claims in their advertisements and wrongful trade practices. Apart from that, the directors of a company may be held accountable by the regulatory authorities if the company does not pay its due taxes. The directors could be levied punitive fines in such cases.”
The directors and officers liability insurance policy provides coverage in cases where the shareholders bring a lawsuit against a company for security related claims. This cover is provided to the company as an add-on cover for Entity Security related claims. The misrepresentation of facts and financial information in prospectus or leaking of confidential data could also result in lawsuits. Qian’s D&O Policy not only offers a regulatory crisis response cover but also has provisions to cover some emergency costs and damage to reputation.
The average cost of directors and officers insurance in India is reasonable and depends on limit of liability, coverages and geographical business exposure of the Insured Company.
About Qian Insurance Broking LLP:
Qian Insurance Broking LLP intelligent insurance solutions to clients both in commercial as well as personal space. The Insurance Broking Firm has tie ups with top insurance companies in India enabling it to offer a variety of personal and business insurance solutions.
The broker provides tailored insurance solutions, quick quotes, competitive prices, strong claims assistance, experts with specific domain knowledge, and dedicated account managers for its clients.
Qian Insurance Broking LLP
125 C, Mittal Court, 12th Floor, opp. Inox Cinema,
Nariman Point, Mumbai, Maharashtra – 400021, India
Phone: +91 22 22044989