Financial Lines Insurance Policy

Financial Lines Insurance

The growth and success of your business is not going to be linear and that’s okay. The graph is going to have its fair share of downward spikes and while there’s nothing you can do to do away with that, you can take measures to ensure that they are not too frequent or sharp. We, at Bajaj Allianz, with our Financial Lines Insurance Policy help you do just that.

In today’s highly competitive market and increasingly litigious world, having the back up of Financial Lines Insurance is key to not just the steadiness of your business but also its survival.

A suit filed against your company by any of those you build relationships with, from employees to customers and everyone in between, can have a cascading effect on the performance and profitability of your business.

It’s not uncommon for a company to be sued by their begrudged employee on grounds of wrongful termination or by their client for breach of confidentiality. Such claims can have catastrophic effects on your company.

Our Financial Lines Insurance Policy is specifically designed, after having considered the nuances of all industries and professions, to take care of such varied claims. Our services are tailor-made to suit the needs of all companies, ranging from the largest global multi-nationals to small- and medium-sized enterprises.

We cover most industrial sectors and have a track record of providing Financial Lines Insurance solutions for general commercial clients.

We understand that the market is fast-moving and requires a responsive and up-to-date approach based on a detailed understanding of emerging risks and legal developments. Our people and processes, hence, are aligned to offer you the same.

Our industry experience, teams of expert underwriters and our ability to adapt to the dynamic markets is what helps us assure you that we’ll be there for you when you need us.

Since your business (and its different aspects) is vulnerable to a variety of risks, we offer a range of need-specific Financial Lines Insurance solutions. 

Directors And Officers Insurance (D&O)

Directors and Officers Insurance (D&O) is one of the most important Financial Lines Insurance cover your company needs to be equipped with. We know that the directors and officers of your company play a very integral role in its success and that all the strategic decisions depend upon them.

We understand that they have to make big decisions, often complex ones, on a daily basis for the growth and development of your company. If your company is operating at an international level, then your directors not only have to keep in mind domestic markets and regulations but also corporate governance and compliance regulations of numerous markets across the globe.

Directors and managers, with such high impact, high pressure roles, can make mistakes and are constantly on the edge. If they have the fear of being held personally liable for them, they may not take risks and risk-taking is essential when you’re running a business. Moreover, they are vulnerable to wrongful allegations from third parties including other employees and stakeholders.

Bajaj Allianz Directors and Officers Insurance (D&O) Policy is carefully designed to protect your directors, officers and senior managerial staff against claims arising out of their decisions and actions taken within the scope of their official duties. We also cover the costs for defence if they face criminal or regulatory charges.

With the help of our Directors and Officers Insurance (D&O) Policy, you and your company can function in an environment of security, knowing that you have us to fall back on.

International Insurance Program (IIPS) For Worldwide Exposures

If your business is international, you already know that so are the risks it faces. You need a partner who offers you global solutions that are customised to take on the growing and complex business risks around the world. We, at Bajaj Allianz, with the help of our International Insurance Programs (IIPs) for worldwide exposures and industry expertise, are just that.

Under this cover of our Financial Lines Insurance, we have designed tailor-made solutions to effectively tackle the multi-national risks of your company, no matter the industry or the size.

We offer local policies that are risk-adequate and that have been issued after taking into account the local regulatory and fiscal rules along with other compliances. These are equipped with a centrally coordinated master policy with harmonised DIC protection.

Our expert teams are equipped to handle risks and apply loss control approaches effectively, so you don’t have anything to worry about and can go ahead and expand your operations in any part of the world. 

Employment Practices Liability (EPLI)

One of the biggest challenges faced by businesses in recent times is being sued by their employees on a plethora of grounds. It’s not just large corporations that face this danger; organisations of all sizes are vulnerable to this risk.

The most common grounds on which employees tend to sue their employers are wrongful termination, discrimination, failure to employ or promote, sexual harassment, wrongful discipline and mismanagement of employee benefit plans.

In such a scenario, Employment Practices Liability (EPLI) is an essential Financial Lines Insurance Policy to have. It offers your company the kind of protection it needs to facilitate you and your management to work with peace of mind without the constant threat of lawsuits.

Prospectus Liability (POSI)

When you want to raise capital from the public or trade your securities in a regulated market, you need to issue a prospectus. The prospectus issued is critical, for if any information mentioned in it is proved to be even slightly inaccurate, the investor can claim the full value of their loss from your company.

Such claims can be made not only at the time of the issue of prospectus but also years later. Hence, every time you make a public offering and issue a prospectus, you are opening your company up to potential liabilities.

Additionally, you and the directors of the company can face civil and criminal charges if its proven that the prospectus contains misleading or inaccurate information.

Yes, such a risk requires you to take great care in preparing your prospectus, but it also calls for the protection of Prospectus Liability Insurance which is a key Financial Lines Insurance Policy.

Our Prospectus Liability Insurance Policy will cover you against liabilities arising out of your issued prospectus.

Commercial Professional Indemnity

If your company offers expert advice to clients, you may already be aware of all the threats the nature of such a business poses, which is why you need to secure your company with the protection of Bajaj Allianz Commercial Professional Indemnity Insurance without delay.

This cover of our Financial Lines Insurance is specifically designed to protect you against claims made by clients on ground of negligence or faulty advice and services. The Professional Indemnity Insurance Policy will also cover the cost of defence for any charges made against your business.

We understand that different professionals and industries require different kinds of protection and accordingly we offer cover for the following:

● Technology: Information Technology, Business Process Outsourcing and Other IT Enabled Services

● Construction Related: Architects, Engineers, Contractors Single Project Professional Indemnity (multi-year)

● Professionals: Accountants, Lawyers, Insurance Brokers, Consultants