Liability Protection

Directors & Officers Liability Insurance

Why Directors & Officers Liability Insurance ?

Our Directors & Officers policy provides personal protection for directors, officers and management against financial loss arising from the potential exposures associated with managing or supervising the company (whether private or listed), and legal representation expenses regarding regulatory investigations.

Coverage Highlights:

  • Defence costs, legal representation expenses, damages, judgements, settlements, bail bond costs, crisis costs, deprivation of asset costs, prosecution costs, public relations expenses
  • Costs arising from extradition proceedings
  • Tax contributions where the parent company has become insolvent and there’s personal liability of an insured
  • Losses incurred against Insured Person for civil fines and penalties

 

Benefits

  • Broad definition of insured and covered act
  • Cover for additional excess limit for non-indemnifiable loss for all main board directors
  • Retired director or officer cover for unlimited period of time, if Insurer or Insured terminates or non-renews the policy

 

Contact Us

Contact your Relationship Manager
Call 2198 8000

Disclaimer

i. The above general insurance plan ("this Plan") is underwritten by Chubb Insurance Hong Kong Limited (“Chubb”) which is authorised and regulated in Hong Kong SAR by the Insurance Authority. Chubb reserves the right of final approval of the policy issuance. Hang Seng Bank Limited ("Hang Seng Bank") is registered as an insurance agency by the Insurance Authority (License No.: FA3168) and authorised by Chubb for distribution of this Plan. This Plan is a product of Chubb and not Hang Seng Bank. Upon application to this Plan, insurance premium will be payable to Chubb, and Chubb will provide Hang Seng Bank with commission and performance bonus as remuneration for distribution of this Plan. The existing staff remuneration policy on sales offered by Hang Seng Bank takes into account various aspects of the staff performance instead of focusing solely on the sales amount.

ii. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between Hang Seng Bank and the customer out of the selling process or processing of the related transaction, Hang Seng Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however, any   dispute over the contractual terms of the insurance product, underwriting, claims and policy service should be resolved directly between Chubb and the customer.

iii. The above information is intended to be a general summary for reference only. Please refer to the policy wording for exact terms, conditions and details of the exclusions.