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Traditional professions like Accountants, Architects, Engineers, Lawyers and Insurance Brokers are highly regulated by local authorities and in many cases these professions are legally required to have professional liability insurance in place.
As a consequence of globalization, service providers in Southeast Asia & China are increasingly finding professional liability insurance as one of the pre-requisite requirements when tendering for business with overseas companies, especially where contracts are awarded by clients based in the US, Europe, UK and Australasia. This is driven by the litigious environment that exists in such territories.
A single claim can ruin a business financially since litigation can be expensive, time-consuming and resource hungry. You may face litigation even if you have done nothing wrong, AIG Professional Liability insurance will provide protection for you when faced with such claims.
If you are a professional, your reputation is everything and maintaining this reputation is critical. If a claim does arise, our claims experts will provide assistance in the management of a positive relationship between you and your client so as to mitigate the damage to your reputation.
Single Project Professional Indemnity (SPPI) is an insurance solution arranged around the lifecycle and needs of a specific construction project. Unlike conventional annually renewable policies, it has particular advantages for project owners and for Joint Venture operators.
Watch the video to learn more.
As noted, AIG offers solutions designed around professional classes and business size:
Cover is given for unlawful acts, real or alleged, committed in the exercise of their profession, including: