Liability  

Professional Indemnity

The purpose of professional indemnity insurance is to protect professional people and those persons within this context who supply a skill or service against their legal liability to compensate parties other than the insured who have sustained some injury, loss or damage due to their professional negligence.

The basis of liability is mainly breach of contract, the contract being a contract for services between the professional and the client. Implied into the contract will be a condition that the professional will exercise reasonable care and skill failing which may result in losses to the client. Consequently the professional may be sued for professional negligence.

What Is Product Liability ?

The Product Liability Policy will provide damages or compensation to the insured against his legal liability for bodily injury, death or loss of or damage to third parties' property caused by goods sold, supplied, repaired, serviced or tested by the insured.

One would be vulnerable to claims of this nature when the product is defective in design, defective in its manufacturing processes, packaging and/or defective in its attached warnings and instruction, resulting in death, bodily injury or third party's property damage or loss.

Liability of the any insured can arise either in tort (negligence) law, strict liability or in contract.

Product Liability

Who Needs It (Potential Insureds)

  • Manufacturer
  • Supplier
  • Building Contractors
  • Retailers
  • Designer/Inventor
  • Licensor/Franchisor
  • Distributors
  • Importers/Exporters

Do you think your products are safe from liabilities or to the consumer ... THINK AGAIN ?

  • allergies from the use of rubber gloves
  • toxic fumes leaked from water heaters
  • exploding can of carbonated drink
  • biological imbalances and depth from the consumption of drugs and medicines
  • foreign object discovered in food and beverages
  • impure mineral water
  • defective building materials
  • faulty lifts
  • defective electrical components & equipment
  • exploding chemicals and its reaction upon physical contact

Comprehensive / Commercial General Liability

The insured will be liable for third party bodily injury, death and/or property damage arising from work(s) conducted by the insured or his employees or within his premises.

The duty of care is imposed either by statute or at common law to ensure the competency of the insured whilst executing works and to ensure that third party(ies) will be safe from bodily injury and/or property damage whilst using the premises of the insured.

Bodily Injury & property Damage Can Occur At Anytime & Anywhere

  • Pollution resulting in damage to third party property and bodily injury and/or death
  • Damage to underground cables and pipes or fixed cables
  • Falling cranes damaging cars and persons
  • Blasting works that causes cracks to surrounding property
  • Exploding tanks
  • Falling signboards injuring or causes passers-by
  • Damage to principal's or third party's property
  • Any damage and/or injury whilst executing work(s)
  • Offshore work that results in liability against the contractor

Directors' & Officers' Liability

Gone are the days where the director(s) are less concern of the possible liabilities that may be incurred ... It is not to the extend of receiving remunerations

Other than the various provisions in the companies act that regulates the duties of a director, there has been concern recently of the consequential effect posed by the year 2000 problem when companies establishments and organisations fail to meet the scheduled dateline. This will lead to directors being liable for non-compliance

In addition to the companies act, there are various statutory law and common law that imposes liability on directors for any breach of the law, negligence, error and/or omission.

The Director's & Officers' Legal Liability ?

Any persons who holds the office of a director or within the management of a company exposes himself to personal liability by virtue of his position :
  • personally and unlimited in liability
  • innocent director(s) are jointly and severably liable for the actions of any fellow director i.e. a director must be comfortable with the abilities of a fellow director
  • heirs and their legal representative of the director can also be liable
  • statutory law imposes that where a claim is brought against a director, legal expenses and costs will have to be funded personally by the director
  • common law and statutory duties