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 worldwide, excluding USA/Canada.
1. Legal Liability Cover
Covers you if you are sued for breach of a duty you owe to the company whilst running the company’s business. Pays for legal fees and damages/settlements.
2. Employment Practices Liability Cover
Covers you if you are sued by the company’s employees , e.g. for harassment, wrongful termination or unpaid salary, etc. Pays for legal fees and damages/settlements, but not unpaid salary.
3. Derivative Lawsuit Cover
Covers you if you are sued by shareholders on behalf of the company. Pays for legal fees and damages/settlements.
4. Civil Fines and Penalties Cover
Covers civil fines and penalties levied against you. A sub-limit applies.
5. Defamation, Libel and Slander Cover
Covers lawsuits filed against you alleging defamation, libel or slander while operating your business.
6. Mergers & Acquisitions – Cover for a new Subsidiary
Covers the management of subsidiaries that the company acquires provided they are not publicly-listed.
7. Investigations Cover
Covers you if you become involved in a formal inquiry or investigation arising from the company’s business. Pays for professional fees. A sub-limit applies.
8. 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.
9. Public Relations Crisis Cover
Covers the cost of hiring a Public Relations (PR) firm to mitigate a PR crisis, e.g. something that negatively impacts the company’s reputation. A sub-limit applies.
10. Pollution Liability Cover
Covers you if you are sued because the company has accidentally caused environmental pollution. Pays for legal fees. A sub-limit applies.
11. Estate, Heirs, Legal Representatives and Assignees Cover
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.
12. Extradition Proceedings Cover
Covers you if you have to fight an extradition case. Pays for legal fees and some other costs.
13. 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.
14. Tax Liability Cover
Covers you for your personal liability for unpaid corporate taxes, if the company becomes insolvent. A sub-limit applies.
15. Retired Directors and Officers Cover
Covers you after you have retired from the company, for liabilities you incurred whilst running the company’s business.
16. Emergency Costs & Expenses Cover
Covers you for professional costs you need to incur in an emergency for a claim or investigation. A sub-limit applies.
