Liability insurance provides cover against third-party claims arising from bodily injury, property damage and more. In doing so it protects your business from financial losses and helps your business remain financially stable when faced with unexpected claims.
MS First Capital provide a broad range of products which can be tailored to provide the coverage that your business needs. We also offer a variety of business package insurance plans that provide comprehensive protection for small and medium sized businesses. Our solutions are backed by an experienced claims team and our financial strength.
As with all insurance products, the exact scope of cover depends on the wording of the policy issues and is at all times subject to policy terms, conditions and exclusions.
Public Liability Insurance protects your business against legal liability which may arise in connection with accidental bodily injury to any third party or accidental loss or damage to property belonging to a third party.
The limit of indemnity specified in our policies typically includes costs and expenses of litigation recoverable by any claimant from the insured and also the costs incurred by the insured with the consent of the insurer.
Our Public Liability policies typically exclude Product Liability and contractual liabilities.
As consumers become more sophisticated, faulty products are increasingly a source of liability for manufacturers, suppliers and sellers. Our Product Liability policy covers your legal liabilities in the event that your business needs to pay out compensation for bodily injury, accidental death or loss or damage to property.
The limit of indemnity also includes legal costs and expenses.
Our Product Liability policies typically exclude losses arising from product warranty/ guarantee, product efficiency, product recall, fines and penalties. We also typically exclude North American jurisdictions.
An employer may be legally liable to compensate workers (or their next of kin) for losses caused by accidents which arising out of and in the course of employment. In Singapore, such liability may be rooted in the Work Injury Compensation Act (WICA) or the Common Law.
As a designated insurer, we offer solutions to both employers and platform operators which can be tailored to cover both WICA and Common law liabilities. Our WICA solutions comply with the compulsory terms required by the Ministry of Manpower.
MS First Capital is a member of the Policy Owners’ Protection (PPF) Scheme managed by the Singapore Deposit Insurance Corporation (SDIC). The PPF Scheme protects policies issued under the Work Injury Compensation Act in the event an insurer which is a PPF Scheme member fails. For more information on the PPF Scheme, please visit the https://www.sdic.org.sg/.
Professional indemnity insurance is designed to help protect your business if a client alleges that they have suffered a loss due to an error or omission relating in the professional services that you have performed.
Our Professional Indemnity policies provide covers any claim for civil liability arising in the conduct of the business. The limit of liability also includes costs and expenses incurred in defending claims. Our policies do not typically cover liabilities arising out of criminal acts or in violation of law.
we handle any claims efficiently and as discreetly as possible as we recognise that, as a professional, your reputation is critical to your business.
Decisions made by a company’s Directors and Officers in their everyday corporate life expose them potential liability to a multitude of parties including employees, shareholders, customers, suppliers and creditors.
In today’s commercial environment, it is impossible for Directors and Officers to work with a free mind without adequate financial protection.
Our D & O insurance provides financial protection by covering legal fees, settlements, and judgments arising out of alleged breaches relating to fiduciary duty, negligence, mismanagement and other alleged wrongful acts. The policy does not, however, cover dishonest, fraudulent, criminal or malicious acts or omissions of the Directors and Officers.
