Corporate Insurance

All businesses face plenty of threats daily, ranging from fires to fraud, from dishonest employees to discontented customers and maybe even disconnected utilities.

These threats may lead to expensive and lengthy litigation resulting in huge liability for the company. Furthermore, not only is physical monetary value affected but also the reputation of the company, which is one of its main ‘income’.

At Prestige Risk Management, we seek to understand your business and explore together the solutions for your needs in the pursuit of maximising your benefits.

The following are a few popular policies we provide for most companies.

Click here for more information on the assistance we can offer you and your company.

Directors’ & Officers’ Insurance (D&O Insurance)

Directors’ and Officers’ Insurance (D&O Insurance) is a type of professional indemnity coverage. A standard Professional Indemnity Insurance (PI Insurance) policy mostly insures the company as a whole, while D&O Insurance provides coverage only for the company’s senior directors and officers against losses due to mismanagement of the company. In addition, rather than the usual claimant who are the customers or external regulators in a standard PI Insurance, the claimant under D&O Insurance is generally a shareholder in the company.

It can be tough for you to choose between the two insurance policies, especially if you are in a budding company with limited funds. PI Insurance is usually suitable for company that deals with giving advice to clients, whereas D&O Insurance is usually suitable for listed companies that run mainly for the benefit of shareholders.

Furthermore, it is also possible to obtain a Business Insurance policy that encompasses complete coverage.

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*Subject to policy terms, conditions and exclusions

Motor Insurance

Owning a private motor vehicle should provide convenience and cost savings. Given the unpredictability of risk and incidence on the road, Prestige Risk Management sources for various comprehensive motor insurance coverage and assurance that will suit your demands and requirements.

With growing affluence, Prestige Risk Management not only utilises our expertise in sourcing for a competitive coverage for Private Motor Cars and Motorcycles, we also provide competitive rates for your Luxury Motor Car.

Avoid missing out on great deals; click here to fill up a form and our consultants will follow up with you for a FREE consultation and quote.

*Subject to policy terms, conditions and exclusions

Professional Indemnity Insurance (Also known as Error & Omission Insurance)

With the increasing amount of lawsuits against professional service providers, no professional service firm can ascertain that they are immune from consumers filing claims on malpractice and/or negligence.

Therefore, it is vital for professional service firms to insulate themselves against claims that will erode their credentials, and could lead to expensive and time-consuming litigation.

Professional Indemnity Insurance ensures you and your company attain solutions on civil liability insurance coverage, and protection for the company and its professionals for all matters arising from the conduct of the business.

Not only do we provide solutions, for instance, Professional Indemnity Insurance for professional service providers such as doctor, lawyers, financial advisors, property agents and etc., but we also help professionals working in the media and movie industry.

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*Subject to policy terms, conditions and exclusions

Public Liability Insurance

Being a business owner operator, you are liable for any accidental damage or injuries to any third party.

Accidents may occur even with multiple safety measures in place and given the increasing awareness and discernment of the community, such accidental damage can lead to high compensation amounts and costly litigation. Therefore, it is prudent for you to take up the Public Liability Insurance policy, which provides coverage for your legal liabilities to third parties in the case of accidental death, injuries and loss of or damage to property arising from your operations.

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*Subject to policy terms, conditions and exclusions

Workmen Compensation

Under the Work Injury Compensation Act (WICA)*, an employer is liable to compensate an employee for accidental bodily injury, sickness, occupational disease or death arising out of and in the course of employment.

With Work Injury Compensation/Employer’s Liability Insurance policy, your compulsory insurance requirements as well as your legal liabilities toward employees under the WICA will be taken care of.

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*Self-employed persons, independent contractors, domestic workers, members of the Singapore Armed Forces, officers of the Singapore Police Force, the Singapore Civil Defence Force, the Central Narcotics Bureau and the Singapore Prisons Service are not covered under WICA

*Subject to policy terms, conditions and exclusions