CGI - Chp 3 pt 3

Details about the proposer, event type, venue, coverage sought, history of non-appearance, and necessary licenses.

The insurer will admit a claim made during the insurance period, regardless of when the act of negligence occurred, as long as it is on or after the retroactive date.

It covers both actual and alleged negligent acts, errors, or omissions.

Scope of services, standard trading conditions, turnover, claims experience, and storage details.

Car accidents involving performers, hazardous venue conditions, and natural disasters like earthquakes or floods.

Claims that should fall under Public Liability Insurance, Products Liability Insurance, libel and slander, and loss of money or securities due to employee dishonesty.

They must have a Professional Indemnity Insurance policy in force to indemnify against liabilities arising from their business.

Loss of money and/or securities due to theft, embezzlement, or fraud by employees.

Cover extended to a specified number of years before the inception of the policy for injuries or damage not yet claimed.

Claims history or incidents that could result in financial loss.

Not exceeding S$500.

Side A: Directors’ & Officers’ Cover, Side B: The Company Reimbursement Cover, Side C: The Entity Cover for Securities Claims and/or Employment Practice Claims.

Loss adjusters.

It often does not cover financial exposures like lost revenues and ticket refunds.

Claims arising from negligence, omission, error, wrongful acts, misstatements, misleading statements, and breach of duty.

Claims arising from willful, dishonest, fraudulent, criminal, or malicious acts or omissions.

A completed claim form with relevant supporting documents.

They should be immediately placed in a safe deposit box, and a receipt issued.

Air, Water, and Land (soil and groundwater).

Liability for damages, claimant’s costs, and the insured’s legal costs related to libel, slander, trademark infringement, and unfair competition.

12 months.

Liability for third-party bodily injury, property damage, and removal of debris resulting from acts of terrorism.

A copy of the Notice stated under Section 3, conspicuously at the reception or main entrance.

Coverage for claims made after the business has closed.

Suicide or self-inflicted injury of an insured person.

Adverse weather is excluded unless agreed by the insurers in writing.

They may face significant financial losses if events like the Summer Olympics are canceled.

As much information as possible about the incident and its financial implications.

Professionals such as accountants, architects, dentists, doctors, engineers, lawyers, surgeons, insurance brokers, and financial advisers.

Third-party legal liability claims and first-party financial or reputational losses due to cyber-attacks.

The details of the information requested.

It provides for the payment of legal costs and expenses in the defense of a claim.

Usually 12 months.

D&O covers individual directors' or officers' liability for wrongful acts in their official capacity, while Professional Indemnity covers liability for breach of professional duty.

A Notice of Section 3 of the Act in plain type in English.

If loss or damage is due to the innkeeper's wilful act, or if goods are deposited for safe custody.

Past, present, or future directors, secretaries, officers of the corporation, or any natural person deemed to be a director or officer by law.

Costs from contractual obligations, ticket refunds, and lost revenues due to event cancellations.

To protect organizations against negligence related to acts of terrorism.

Notify the insurer of any and every incident that occurs.

Environmental changes, legislative changes, and market conditions.

Multi-national companies and conglomerates with diversified operations.

Such changes are excluded from coverage.

Amount of indemnity, type of services, number of practitioners, territorial area, fees, claims history, and professional qualifications.

It allows a company to indemnify a director or officer against liability incurred to third parties, with certain exceptions.

Inaccurate advice, delays, or not taking the correct action.

Coverage for libel and slander.

To indemnify the insured for claims made against them for wrongful acts committed during the policy period.

Negligence refers to failure in professional duties, while wrongful acts include a broader range of errors, omissions, and breaches of duty.

Purchase and maintain insurance against liability for its directors or officers.

Claims Made Basis.

Costs inclusive and costs exclusive.

An aggregate limit for any one period of insurance.

How claims are dealt with, need for legal opinions, insurer's payment limits, counter-claims, and third-party proceedings.

Legal liability protection for the company for employment-related and/or securities-related claims.

Financial exposures such as contractual liabilities, lost revenues, and ticket refunds due to event cancellations.

Contractual pollution liabilities, first-party business interruption, pollution losses from transported cargo, and pollution losses from third-party waste disposal facilities.

Insurance purchased by businesses that have custody or control of personal property belonging to someone else.

They must give written notice to the insurer during the period of insurance.

Maintaining proper working order of all locks to bedroom doors.

Claims Made Basis or Occurrence Basis.

It covers medical expenses incurred due to bodily injury caused by accidents, subject to policy limits.

The insured is expected to bear part of these costs and expenses.

Public Liability Insurance policy.

Notify the insurer as soon as possible.

Venue damage, natural perils, disease outbreaks, public transportation disruptions, national mourning, and terrorism.

Claims Made Basis or Occurrence Basis.

Carriers Legal Liability Insurance.

Usually on a worldwide basis.

Legal liability arising from the content of an advertisement.

The insured’s awareness of any matter or incident that may affect performance and result in a claim.

As a stand-alone policy or as an extension of a Professional Indemnity policy.

Persons with E&O liability exposure, such as council members of management committees.

Any actual or alleged negligent act, error, omission, misstatement, misleading statement, neglect, or breach of duty by the director or officer.

To protect professionals against claims arising from negligence, omission, or error in their professional duties.

Malicious acts targeting computer information systems, networks, and devices, often resulting in theft, alteration, or destruction of data.

Loss of data, virus transmission, denial of service, network security breaches, privacy breaches, cyber extortion, and intellectual property infringement.

Losses to clients’ property in the custody of a bailee and litigation costs recovered from the insured.

Bodily injury and third-party clean-up costs.

The legal liability of the innkeeper for property loss or damage sustained by guests.

No, the policy wording varies from insurer to insurer and profession to profession.

It pays for losses of individual directors or officers not indemnified by the company for claims made against them during the policy period.

Provisions exempting directors or officers from liability for negligence or breach of duty are void, and companies may not indemnify against such liabilities except as permitted under Sections 172A or 172B.

Ways to mitigate financial and reputation impact, such as rescheduling the event.

Legal liability to pay damages and claimants’ costs arising from neglect, errors, or omissions.

To cover liability for damage or loss of cargoes and stocks stored for clients.

Claims for wrongful acts committed or allegedly committed by the insured.

Bodily injury, property damage, personal injury, pollution liability, and advertising injury.

Employer’s liability, product and services liability, tenant liability, and liquor liability.

Coverage for claims related to the infringement of intellectual property rights.

First-party and third-party remediation costs, third-party bodily injury, property damage, natural resource damages, legal costs, and civil fines.

Liability exposure for persons in vocations with less rigorous standards than professional liability.

Coverage for any resulting loss is excluded.

Payment of fines in criminal proceedings, penalties for regulatory non-compliance, defending criminal proceedings where convicted, and defending civil proceedings brought by the company.

A limit of indemnity, subject to an aggregate limit for the policy period.

Environmental Impairment Liability (EIL) Insurance, Terrorism Liability Insurance, and Cyber Liability Insurance.

Lack of care, diligence, or prudent behavior that increases the risk of loss.

Exceeds S$5,000.

It reimburses the company for losses granted to directors or officers as indemnification for claims made against them during the policy period.

It is excluded unless it directly causes cancellation or interruption of an insured event.