Description
About Berkley Insurance Asia
Berkley Insurance Asia (BIA) is the trading name for Berkley Insurance Company (Singapore Branch) and is one of the member companies of W. R. Berkley Corporation.
W. R. Berkley Corporation is based in Greenwich, Connecticut and is a property and casualty insurance holding company that was formed in 1967. W. R. Berkley Corporation is ranked in the Fortune 500. W. R. Berkley Corporation operates worldwide in two segments of the property and casualty insurance business: Insurance and Reinsurance & Monoline Excess. W. R. Berkley Corporation’s member insurance companies are rated A+ (strong) by S&P and A+ (Superior) by A.M. Best.
Coverage geography applies to Singapore.
1. Legal Liability
Covers legal fees arising from the insured’s legal liability due to breach of professional duty, negligence and errors and omissions in the conduct of business.
2. Legal Representations Expenses
Covers your estate, heirs, legal representatives or assignees, where they have to take over the defence of a claim against you, for example after your death.
3. Advancement of Costs & Expenses
Allows you to claim for professional fees as they are incurred throughout a claim. This helps your cash flow significantly and avoids a situation where you have to pay professional fees first, and then claim them back under the policy. Professional fees can accumulate very quickly.
4. Breach of Privacy
Covers loss or misuse of confidential or personal information or breach of privacy of any client of an Insured anywhere in the world.
5. Consumer protection
Covers violation of the Consumer Protection (Fair Trading) Act
6. Consultants
Cover for vicarious liability resulting from the failure to supervise consultants, contractors or subcontractors.
7. Continuous Cover
Covers you if you unintentionally fail to notify a claim, and you were insured by the same insurer when you should have notified that claim.
8. Defamation, Libel and Slander
Covers lawsuits filed against you alleging defamation, libel or slander while operating your business.
9. Dishonesty of Insured
Cover for the dishonesty or fraud of covered individuals within your business, or for some of their criminal or malicious acts.
10. Emergency Costs & Expenses
Covers you for professional costs you need to incur in an emergency for a claim or investigation. A sub-limit applies.
11. Extended Reporting Period
90 days automatic extended reporting period upon termination or non-renewal of the policy
12. Fiduciary Duty
Cover for breaches of fiduciary duty owed to your clients.
13. Infringement of Copyrights or Patents
Cover for infringement of intellectual property rights whilst operating business
14. Joint Venture/Consortium
Cover for losses arising from participation in any joint venture or consortium.
15. Subsidiary
Automatic cover for subsidiaries
Please refer to the Sample Policy for more information.
