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SMPP provides value-added services which can help
you avoid management liability claims and mitigate losses. You will
save cost, as these services are provided at no additional premium.
You will automatically receive CrisisFund, an endorsement to the
Directors & Officers and Company Reimbursement coverage, or
Employment Practices Liability coverage. These enhancement fees
for crisis communication services are related to management of a
covered crisis event.
Financial Loss Protection
SMPP includes:
- BusinessGuard/Directors & Officers and Corporate
Liability Insurance
- IPO Liability Insurance
- Employment Practices Liability Insurance
- Crimemanager (Fidelity)
- Employed Lawyers Liability Insurance
- Professional Liability Coverage, specific to the industry of
the insured.
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BusinessGuard offers executives like you ample protection
from the financial consequences of acts, errors or omissions,
including securities and employment practices claims, made
in the course of their past, current and future business activities.
Extensions are available to provide your company against securities
and employment mismanagement claims. We offer coverage and
capacity - up to US$50 million – the largest on the market
today. This policy includes the broadest definition of claim,
the most coverage for individual directors and officers and
for your corporation. Entity cover for securities claims applies
to your corporation, individual directors and officers, as
well as your employees.
These are the features under our BusinessGuard policy:
- Coverage for shareholder derivative suits
- Advancement of defense costs
- Employment Practices Liability Protection
- Investigative cost, representation cost at examinations
by regulators (including Securities Exchange Commission
of USA)
- Claims brought by former directors
- Actions brought by liquidators and receivers
- Bilateral Discovery Period
- Coverage for future shares offerings
- CrisisFund up to S$50,000 to hire crisis management firm
to assist in public communications
- Panel Counsel of expert domestic and international securities
law firms
- Optional-Entity coverage (pricing negotiable and subject
to underwriting)
We can offer worldwide coverage for territory and jurisdiction.
The policy would include Automatic coverage for subsidiaries
and outside directorships for associated companies and not
-for-profit entities, subject to the following terms:
- 15% Majority Shareholder Exclusion
- Professional Indemnity Exclusion
- SEC Exclusion
- Known claims exclusion
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SMPP offers you and your executives protection
from the financial consequences of acts, errors or omissions made
in the course of your business activities. Some activities that
may provoke claims are corporate restructuring, Initial Public Offering
(IPOs), improper financial reporting and negligent
merger and acquisition decisions.
SMPP protects your corporation and your directors and officers
from claims against management brought by shareholders, creditors,
employees, customers, liquidators/receivers and competitors.
It is with these new exposures in mind that we are offering comprehensive
insurance to protect you and your personal assets.
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When your company raises capital in an initial public offering
(IPO), it increases management liability
exposures unlike any it has faced before. IPO
Liability Insurance is an endorsement to our Director’s
& Officer and Company Reimbursement policy. It offers
one of the broadest coverage available for IPO
securities claims and for aftermarket securities claims for
up to 3 years after IPO (pricing negotiable
and subject to underwriting).
a) Optional coverage for securities underwriters of the IPOs
This coverage mirrors your indemnification agreements and
includes defence costs.
b) Optional coverage for others commonly named as co-defendants
in IPO securities suits
This coverage protects you from IPO securities
suits such as selling and controlling shareholders; lawyers;
accountants and experts.
Defence costs may also be covered for claims against co-defendants.
Flexible options for replenishing coverage
If a claim is filed and additional limits are needed, you
can either:
- Reinstate full coverage for individuals in claims where
they are not indemnified by your corporation, or
- Reinstate full across-the-board coverage for additional
premium
With this endorsement, the policy retention is reimbursed
in a securities claim upon dismissal of a suit against you,
with or without prejudice. There will be no retention imposed
on you for settlements or judgments in securities claims.
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This policy speaks for itself. It features the broadest definition
of “Employment Practices Violation”. As an employer,
you are covered from claims regarding sexual harassment, discrimination
and wrongful termination brought by your customers, clients
or other third parties. We can enhance the coverage by including
claims against scheduled independent contractors, and to cover
punitive as well as exemplary and multiple damages awards.
Among other highlights, the policy provides an extended three-year
reporting provision, full prior acts coverage, and limits
of liability up to US$10 million.
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This is a sophisticated worldwide protection for white-collar
crime and related financial loss. CrimeManager covers more
types of claims than typical fidelity coverage. It responds
to a diverse range of Crime-related losses of corporate
assets.
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This policy covers your legal department for on the job
professional errors, pro-bono and “moonlighting”
services.
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AIG can provide various errors and omissions
insurance policies according to your type of industry. Some
examples include computer consultants, investment advisors,
property managers, accountants and other services that contain
the element of third party risk as a result of negligence.
- Computer Services & Software Developers Errors
& Omissions
AIG tends to the needs of computer professionals
in every possible aspect. We provide a full-fledged Professional
Liability policy for companies providing system analysis,
software design, computer programming, data processing,
systems integration, consulting or information retrieval.
- MultiMedia Professional Liability
AIG provides a comprehensive MultiMedia
Professional Liability for companies providing any form
of media. We address the needs of publishing, broadcast
or advertising professionals.
- Miscellaneous Professional Liability
We can customise policy coverage to provide broad coverage
for errors & omissions to meet your company’s
needs.
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At AIG, we work with you in partnership
during every step of the claims process. Regardless of the
strategy you decide to pursue - litigation or settlement
- we offer you every advantage in achieving the best possible
outcome.
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We put top defence lawyers on your side to handle complex
securities class action lawsuits, ERISA-related lawsuits,
and employment practice claims, to work closely with you,
your broker and AIG Companies. As part
of SMPP we have created a Panel Counsel
catering to the unique needs of companies here in Singapore.
For SMPP clients with multi-national exposures,
we offer Panel Counsel services in the United States, the
United Kingdom, Europe and Australia.
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CrisisFund is available to you up to S$50,000 – with
no retention. It puts pre-eminent public relations consultants
to work, mitigating the negative impact of certain business
events on your company’s stock price. CrisisFund is
particularly effective in helping your company avoid D&O
lawsuits, or to reduce potential damages.
CrisisFund is provided to SMPP participants
at no additional premium.
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Employment CrisisFund is an endorsement, at
no additional premium, to our EPLI policy. It is available
to you up to S$25,000 – with no retention – to
hire an employment crisis management firm to help prevent
or mitigate severe employment practices claims. Coverage
is triggered by your General Counsel when an “employment
crisis” incident is reported in the media, discovered
by senior management, or alleged by a potential claimant.
No claim against the underlying policy is required.
This is a sophisticated worldwide protection for white-collar
crime and related financial loss. CrimeManager covers more
types of claims than typical fidelity coverage. It responds
to a diverse range of Crime-related losses of corporate
assets.
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Contact:
Commercial Lines Contact Centre
Hotline: (65)6419-1800
Fax: (65)6835-7413
Email: CLServices.ahasgp@aig.com
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