Coverage from personal legal exposure. In today’s fast-moving regulatory and business environment, this coverage is a must-have for companies of all sizes—including family offices.
Coverage for injury
to third parties
Protection against property damage
claims
Legal
defense costs
Compensation for
medical expenses
Coverage for
accidental incidents
on business premises
Family offices, which manage the wealth and affairs of high-net-worth families, are increasingly prevalent in Singapore. However, their unique structure and operations expose them to specific risks:
The collapse of entities like Archegos Capital Management has highlighted the vulnerabilities of family offices to regulatory actions and reputational damage.
Handling vast assets and confidential information, family offices are susceptible to internal mismanagement and external threats.
Disputes arising from fiduciary duties or investment decisions can lead to costly legal battles.
Directors can be held accountable for cyber incidents if found negligent in overseeing IT governance, exposing them to personal liability for breach fallout, fines, and class-action claims.
A: Yes. Private companies are not immune to lawsuits alleging mismanagement or breach of duty. D&O insurance protects company leaders from personal financial loss in such events.
A: It covers legal defense costs, settlements, judgments, and other expenses arising from lawsuits against directors and officers for alleged wrongful acts in their managerial roles.
A: Absolutely. Given their role in managing substantial wealth and sensitive information, family offices face significant risks that D&O insurance can help mitigate.
A: Yes. Insurers like Liberty, Sompo, and Chubb offer tailored D&O policies to suit the unique requirements of different organizations, including family offices.
A: By providing a safety net for directors and officers, D&O insurance encourages prudent decision-making and attracts qualified individuals to leadership positions.
For businesses and family offices in Singapore, securing D&O insurance is a strategic move to protect leadership and ensure long-term stability. Consulting with experienced insurance providers can help tailor the right coverage for your organization’s needs.
INTERNATIONAL PROTECTION GROUP PTE LTD.
#27-01 Prudential Tower,
30 Cecil Street,
Singapore, 048623
