SALIENT FEATURES

• Public liability
• Products liability
• Product recall
• Directors and officers (D&O) liability
• Errors and omissions (E&O) and Professional Indemnity (PI)

 

Public liability

Public liability insurance covers the legal liabilities of the insured to third parties for bodily injury or property damage arising from the insured’s business activities. It includes environmental impairment liability and property owners’ liability.

 

Products liability

Products liability insurance covers the legal liabilities of the insured to third parties for bodily injury or property damage arising from products manufactured, sold or supplied by the insured. The risk location is the territory in which the insured’s business establishment is located. If more than one insured resident or business establishment is covered, then each may individually create a risk location. Please note: the territory in which a product is sold does not by itself determine the risk location.

 

Products recall

Product recall insurance covers the expenses incurred by an insured as a result of recalling products that it has manufactured or sold because those products have caused, or are likely to cause, bodily injury or property damage.

 

Directors & officers

D&O covers the personal liabilities of the directors and officers of a company that result from acts committed or allegedly committed while acting in their capacity. The insured may be the corporate entity, individual directors and officers or both. Where a corporate entity takes out a D&O policy to cover its directors and officers the risk location is the territory in which the insured’s business is established.

 

Errors and omisions (E&O) and professional indemnity (PI)

E&O and PI covers the third party liabilities of professionals and service providers arising from errors, omissions and negligent acts committed in the course of their professional duties. The insured can be a corporate entity or an individual professional person.