Introduction
As small business owners, buying an insurance policy can be daunting as you need to take many things into consideration. You must understand your business risks, prioritize your insurance needs, procure and compare multiple quotations, and determine the optimal protection for your business, employees, and yourself. Any setback can harm your business, and in a worst-case scenario, an unexpected loss can even threaten the survival of your company. Structured and comprehensive protection to cover you against everyday risks in a business is all you need for peace of mind to focus on building your business without worrying about what’s around the corner. Small business owners in Singapore can safeguard themselves by partnering with an experienced broker and protecting their business with a comprehensive insurance plan that covers business risks. It all begins with taking control of your business risk management with the help of PromiseLand Advisers.
What does the product cover?
The three key insurances to be included in your SME Insurance Package are:
- Professional Indemnity/Errors and Ommissions (E&O)
- Cover the cost of fallout from errors and omissions – essentially, when you make a mistake, miscalculate or miss something.
- It can include:
- Lost documents (in various formats)
- Accidentally sharing/publicising confidential information about clients
- Saying or writing something which is considered defamatory
- Unintentional use of third-party intellectual property
- Dishonest acts by your employees
- Directors & Officers Cover
- Covers costs relating to mounting a defence and any damages or settlements relating to claims arising from:
- Employment practices liability claims
- Failure to comply with regulations
- Disgruntled shareholders
- Misrepresentation of company assets
- Misuse of company funds
- Covers costs relating to mounting a defence and any damages or settlements relating to claims arising from:
- Cyber Insurance
- Offers coverage for:
- Emergency incident response
- Loss of income
- Costs of extortion
- Costs of restoring your data
- Legal defence fees and damages.
- Offers coverage for:
Get in touch with us today to see how our business solutions can meet your needs.
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