Financial Lines

Actions against directors and professionals can seriously damage a company and irreparably damage an individual’s own career.  Even unfounded allegations can be extremely stressful, expensive and time consuming to defend. AIG knows how reassuring our clients have found the support and expertise of AIG claims team and Financial Lines products including protection for companies, their directors, officers and employees against a wide range of financial liabilities.

Directors and Officers Liability Protection

  • Designed to meet the management liability needs of private and public companies in Hong Kong
  • Advancement of legal defense costs
  • Coverage includes company's securities claims arising out of sale or purchase of company's own securities
  • Employment practice liability cover for the companies, directors and officers
  • Covers losses arising from claims made against the estate, heirs and legal representative of the insured
  • Automatic extension covers outside directorship of associated companies, joint ventures and non-profit entities
  • Automatic coverage for newly created or acquired subsidiaries
  • Optional IPO protector covers errors or omissions in the prospectus of companies undertaking an initial public offering

Financial Institutions Liability

  • Designed to meet the management and professional liability requirements unique to financial institutions in Hong Kong
  • Protects all kind of financial institutions, including banks, securities company, investment company, mutual funds, investment managers, investment advisors and venture capital/private equity from the third party allegations in relation to the professional services provided
  • Protects executives and entities from financial consequences of acts, errors or omissions made in the course of past, current and future business activities

Policies available are:

  • Directors and Officers Insurance (CorporateGuard premier)
  • Investment Professionals Protector (IPP)
  • Financial Institutions Civil Liability Insurance (FICLI)
  • Venture Capital/Private Equity (VC Protectors)

Professional Liability

Designed to respond to the diverse needs of professionals who may face liability as a result of their performance or failure to perform professional service in Hong Kong

Pays legal defense costs and compensation for:

  • Breach of duty 
  • Negligence
  • Error and misstatement

Intellectual property infringement

Defamation (libel & slander)

Fraud and dishonesty of employees

General wordings provide basic policy structure that is applicable for wide range of specified professions services (SPPL)