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SURETY

About

Surety Insurance ensures fulfilment of contractual obligations made by the service provider (policyholder) to the purchaser (the insured). Surety Insurance protects against any losses caused by the failure to fulfil contractual clauses.

Who can/should purchase this insurance

This insurance is requested for government or private-enterprise contracts to ensure the fulfilment of all contract obligations for construction, supply, service provision, public-service concessions, and bid processes, in addition to being broadly used as a replacement for deposits in court and as a guarantee for payment of taxes.

Advantages

Does not affect companies’ lines of credit
Less risk to the purchaser
Greater agility at the time of purchase
Is a low-cost guarantee option

Types

Judicial

Judicial Surety Insurance secures the sums under discussion in court cases that require a deposit in court. It is a low-cost option for companies that provides the court with security and agility. In terms of its acceptance, Judicial Surety Insurance is widely accepted as security over the course of lawsuits. In the case of labor-related suits, it has been even easier since November 2017, when the labor reform came into effect, in which the use of this type of guarantee was expressly written into the Consolidated Labor Laws (CLT).

We offer products for different types of cases, such as civil, labor, and provisional remedy suits, replacing deposits in court during the course of tax foreclosure cases, plus appeal bonds.

Go to the Issuance portal

Administrative for tax credits

This Surety Insurance attests to the accuracy of the tax credits reported by the policyholder in federal-, state-, or municipal-level administrative suits. In this case, Surety Insurance is used to release these credits, and also to ensure the policyholder’s standing in special taxation regimes.

Customs

The objective of Customs Surety Insurance is to guarantee payment of suspended taxes owing to customs authorities, within the scope of application of the special customs regime. In this case, the Surety Insurance works to facilitate the release of imported goods.

Payment advances

Ensures that the sums received as advances for contracts are allocated to the immediate performance of the contract purpose, that is, the execution of the stage underway, all the way to its completion. This guarantee enables the release of funds to the supplier, without them having to use their own cashflow, and, for the purchaser, it is a guarantee that the funds advanced will be applied to the supply of the equipment or to the execution of the work set out in the contract.

Corrective maintenance

Ensures the execution of the corrective actions specified by the purchaser as necessary to repair the problems that arose during performance of the contract and that were the exclusive liability of the policyholder.

Bidder

This type of insurance ensures that in public or private bid processes, the policy-holding winner of the competition will uphold their proposal and sign the contract under the terms and conditions specified and by the deadline set out in the public notice. This insurance is often requested for bidding procedures such as auctions, public competitions, requests for quotation, and letters of invitation.

Construction, supply or service provision

This type of insurance guarantees compliance with all obligations assumed in a contract for construction, supply, or service provision, thus protecting the insured against the risk of breach by the policyholder.

Concessions

Guarantees fulfilment of all obligations assumed under a contract for the concession for the operation of a public utility or service such as highways, sanitation, and power.

ENERGY RISKS

About

Energy Risk insurance guarantees coverage for assets, equipment, and liability arising out of risks connected to oil and/or gas prospecting, exploration, drilling, and production operations, both onshore and offshore. It also guarantees coverage for projects and construction connected to this sector.

Who can/should purchase this insurance

Energy Risk insurance guarantees coverage for assets, equipment, and liability arising out of risks connected to oil and/or gas prospecting, exploration, drilling, and production operations, both onshore and offshore. It also guarantees coverage for projects and construction connected to this sector.

Advantages

Coverages for onshore and offshore risks
Coverage for projects and construction

Coverages

Operator’s Extra Expense

Coverage for all operations related to the exploration and production of an oil well, from drilling to closure, both onshore and offshore. This section includes coverages for well control (expenses for when a well-control event occurs and the well needs to be brought back under control safely); redrilling (expenses incurred to redrill or restore a well); and seepage and pollution, cleaning and contamination (expenses incurred when attempting to remove, nullify, and/or clean/dispose of any pollution, seepage, or contamination by substances released from insured wells).

Physical Damage

Coverage for damage to oil and/or gas equipment, including but not limited to tools, materials, devices, substructures, or other equipment components, both onsite and in transit.

It also includes coverage for fixed or floating platforms, as well as all their modules and facilities, including all equipment, tools, machinery, movable legs, materials, supplies, accessories, drilling rigs and equipment, drilling towers and/or drill strings, and casing pipes, whether owned or under the care, custody, or control of the insured.

Liability

Reimburses the insured for the sums for which it becomes liable relative to bodily injury and/or monetary damages, loss of life, bodily harm, or illness caused to third parties arising out of the activities relative to the oil and gas operations. Additional coverages available are Employer’s Liability, Cross-Liability, Sudden Pollution, Pain and Suffering, and more.

Offshore Construction

Coverage for oil and gas activities carried out during offshore design and construction projects such as procurement, construction, fabrication, launch, loading/unloading, land or marine transportation or installation, burial, interconnection, connection operations and/or connection parts, testing and commissioning, start-up and maintenance operations, design studies, engineering, project management, testing, excavation, and commissioning. Offers coverage options both for Physical Damage and for Liability related to the construction project.

Loss of Revenue as a Result of Business Interruption

Reimburses the insured in the event of an unexpected loss of production (or of revenue), as a result of any damage. This coverage must be linked to the coverage for Physical Damage and/or Operator’s Extra Expense.

Loss of Revenue as a Result of Network Interruption (Cyberattack)

The insured is covered in the event of an unexpected loss of production (or of revenue), as a result of a cyberattack or a network interruption. This coverage must be linked to the coverage for Physical Damage and/or Operator’s Extra Expense.

Decommissioning

Provides coverage both for Physical Damage and for Liability for decommissioning projects, which encompass the technical and engineering procedures for an offshore system that aim at the decommissioning of platform units and/or oil vessels, as well as production facilities in oil and natural gas fields during all stages of the removal process of these assets, from the dismantling of the modules at sea to final unloading in shipyards.

DIRECTORS AND OFFICERS

About

Liability insurance for directors and officers (D&O) protects the personal assets of directors and officers based on the liabilities they need to assume because of their role.

Who can/should purchase this insurance

All companies that seek to offer additional protection to their directors and officers, fulfil a direct request by them for this protection, or offer it as a competitive advantage to secure the best professionals.

Advantages

Protection for directors’ and officers’ personal assets
Directors’ and officers’ defense costs are included in covered claims
A benefit when seeking to attract the best professionals
Provides security to directors and officers when making decisions

Coverages

D&O insurance was created to cover the costs of defense and any settlements owing by directors or officers in the event of being attributed personal liability as a result of their role in the management of a company and in line with the terms of the policy. This insurance offers the following coverages:

Coverage A

Pays the insured (director or officer) directly

Coverage C

Follows a special model; is applied in cases where the company trades securities. In this case, the company can also be considered as the insured in the event of claims related to their management.

Coverage B

Pays the purchaser (company) that advanced the costs to the insured

Additional Coverages

In addition to the product’s most basic coverages, over time specific needs started arising on the insurance market. To address these needs, particular clauses, coverage extensions, additional coverages, and endorsements were devised, along with a series of changes to the clauses.

Internal Lawyers

This allows the lawyers that are part of the policyholder’s staff to be considered as insureds.

Insured’s Advisers

This allows the insured’s advisers that are part of the policyholder’s staff to be considered as insureds.

Advising and Handling Lawsuits Abroad

This coverage provides for the payment of lawyers to handle lawsuits outside of the insured’s jurisdiction.

Affiliates

This coverage enables the policy to also include affiliate companies, i.e., companies on which the policyholder has significant influence, without being a majority shareholder.

Internal Accountants, Risk Managers and Internal Auditors

Allows accountants, risk managers, and auditors who are part of the policyholder’s staff to be considered as insureds.

Voluntary Resignations

This extends the complementary time limit of insureds who have voluntarily resigned to ten years.

Piercing the Corporate Veil

This coverage ensures that insureds are covered in the event that the courts decide to pierce the corporate veil of the company.

Publicity Expenses

This coverage enables the hiring of advisors to recover the image of the insured in the event of a claim that harms its reputation.

Outside Directorship (ODL)

Extends the coverage to directors appointed by the policyholder in companies in which the policyholder has the authority to make such an appointment.

Additional Expenses for Experts

Enables the engagement of experts to assist with the technical reports for the legal defense of the insureds in the event of a claim.

New Controlled Company or Subsidiary (with up to 30% of the Policyholder’s Total Assets)

Enables subsidiaries that are created or acquired after the effective date of the policy to be automatically included under the policy, as long as their total assets are limited to 30% of the policyholder’s total assets.

Online Levy of Execution and Freezing of Assets

Enables the advance of salaries to insureds undergoing online levy of execution. The sums must be returned as soon as the online levy of execution is ended.

Unfair Labor Practices

This coverage guarantees the defense of the insured, plus any settlements they are compelled to pay, in the event of Unfair Labor Practices.

Extradition Cases

This coverage enables the defense of the insured in extradition cases.

Claims Advanced by an Outside Entity

Offers coverage in cases where the complaint is made by outside entities (legal entities where officers are specified by the policyholder).

Spouse or Common-Law Partner Liability

Extends the coverage to the spouse of the insured in the event of claims where they need to be part of the suit.

Errors and Omissions

Extends coverage to cases where the insured is involved as a result of errors and omissions by the policyholder.

Insured vs. Insured

Enables coverage for insureds in claims against other insureds. The policy will only guarantee the rights of the defendant in the case.

Retired Insured Persons

Extends the complementary time limit of retired insureds by ten years.

Policyholder vs. Insured

Enables coverage for insureds in claims entered by the policyholder itself.

Crisis Management

Enables the hiring of advisors to recover the image of the policyholder in the event of a claim that involves an abrupt and sharp drop in their share price. The policy includes a list of situations in which it is possible to use the coverage.

Emergency Defense Costs

Coverage for the costs required for the defense of an insured, if there is no time to notify the claim to the insurer.

Disqualification

The coverage will replace the salary of an insured who has been legally disqualified in a claim covered under the policy. The coverage ends as soon as the insured’s disqualification has ended or when he or she resumes paid activity.

Fines and Penalties

The coverage will pay fines and penalties, both civil and administrative, imposed on the insured as a result of claims covered under the policy up to the maximum settlement limit provided for.

Inquiry Costs

The coverage will pay for the insured’s defense in cases of inquiries or investigations by government agencies.

Consent Decrees/Agreements

The coverage will pay for consent decrees or agreements to be undertaken by the insured in the event of a claim covered under the policy.

Extraordinary Events with Regulatory Bodies

This coverage will guarantee the defense of the insured in case of a critical regulatory event, which is understood as an official procedure by the authorities involving the production of documents.

Environmental Liability for Officers and Directors

This coverage guarantees the costs of defense, plus any settlements owed by the insured, in claims involving environmental damage. Costs for required clean-up are not covered.

Environmental Liability for Officers and Directors (Only for Defense Costs)

The coverage guarantees the insured’s costs of defense in claims involving environmental damage.

ERRORS AND OMISSIONS

About

Errors and Omissions (E&O) protects companies and professionals from any potential settlements owing to third parties for damage caused during the provision of services.

Who can/should purchase this insurance

All companies that provide any type of service and believe that they could cause damage to a third party as a result of their activity.

Advantages

Protection of assets against unexpected errors in the service provision
Defense costs included in covered claims
Complementary timeline allows for protection even after delivery of the service
Additional security for the purchaser’s client

Coverages

E&O insurance was created to cover the costs of defense and any settlements owing by the insured in the event of the determination of legal liability as a result of errors in the service provision that causes damage to third parties, in line with the terms of the policy.

Additional Coverages

In addition to the product’s most basic coverages, over time specific needs started arising on the insurance market. To address these needs, particular clauses, coverage extensions, additional coverages, and endorsements were devised, along with a series of changes to the clauses.

Monetary Damages

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision that cause monetary losses to third parties.

Bodily Injury

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision that cause bodily injury to third parties.

Pain and Suffering

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision that cause pain and suffering to third parties.

Costs of Defense

This coverage enables the policy to pay the insured’s defense costs for claims by third parties as a result of errors in service provision.

Costs of Defense for Police Inquiries and Criminal Suits

This coverage enables the policy to pay the insured’s defense costs for police inquiries and criminal proceedings as a result of errors in service provision.

Disbursement of Retained Fees

This coverage will compensate the insured for retained fees (except profit margin) by clients of the insured, in the event of errors in the provision of services covered under the policy. The coverage will only be valid in the event the third party commits not to subsequently file a claim relative to the event for which the fees were retained against the insured.

Consultants, Contractors, Subcontractors, Third-Party Providers and Agents

This coverage extends the classification of insured to consultants, contractors, subcontractors, third-party providers, and agents of the insured.

New Subsidiary (with up to 30% of the Policyholder’s Total Assets)

This coverage extends the classification of insured to subsidiaries that are created or acquired after the effective date of the policy, as long as these subsidiaries hold up to 30% of the policyholder’s total assets.

Runoff Coverage for Mergers and Acquisitions

This coverage enables the policy to be effective for events occurring before the insured’s mergers and acquisitions.

Liability in Joint Ventures

This coverage extends the classification as an insured to joint ventures of which the insured is part.

Crisis Management/Publicity Expenses

This coverage enables the insured to engage advisors to recover its image after an incident covered under the policy causes harm to its image.

Dishonest Acts by Employees

This coverage enables the policy to pay settlements owed by the insured to third parties as a result of errors in service provision caused by dishonest acts by its employees.

Violation of Intellectual Property Rights

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision that cause a violation of third parties’ intellectual property rights.

Loss, Theft and Robbery of Clients’ Documents

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision caused by the loss, theft, or robbery of clients’ documents.

Emergency Costs

This coverage enables the policy to pay the insured’s defense costs in the case of claims where the insured did not have enough time to notify the insurer.

Court Appearance

This coverage enables the policy to pay the travel expenses of the insured in cases where the claim is entered outside of his or her habitual jurisdiction.

Defamation

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision that cause defamation to third parties.

SURETY

SURETY

About

Surety Insurance ensures fulfilment of contractual obligations made by the service provider (policyholder) to the purchaser (the insured). Surety Insurance protects against any losses caused by the failure to fulfil contractual clauses.

Who can/should purchase this insurance

This insurance is requested for government or private-enterprise contracts to ensure the fulfilment of all contract obligations for construction, supply, service provision, public-service concessions, and bid processes, in addition to being broadly used as a replacement for deposits in court and as a guarantee for payment of taxes.

Advantages

Does not affect companies’ lines of credit
Less risk to the purchaser
Greater agility at the time of purchase
Is a low-cost guarantee option

Types

Judicial

Judicial Surety Insurance secures the sums under discussion in court cases that require a deposit in court. It is a low-cost option for companies that provides the court with security and agility. In terms of its acceptance, Judicial Surety Insurance is widely accepted as security over the course of lawsuits. In the case of labor-related suits, it has been even easier since November 2017, when the labor reform came into effect, in which the use of this type of guarantee was expressly written into the Consolidated Labor Laws (CLT).

We offer products for different types of cases, such as civil, labor, and provisional remedy suits, replacing deposits in court during the course of tax foreclosure cases, plus appeal bonds.

Go to the Issuance portal

Administrative for tax credits

This Surety Insurance attests to the accuracy of the tax credits reported by the policyholder in federal-, state-, or municipal-level administrative suits. In this case, Surety Insurance is used to release these credits, and also to ensure the policyholder’s standing in special taxation regimes.

Customs

The objective of Customs Surety Insurance is to guarantee payment of suspended taxes owing to customs authorities, within the scope of application of the special customs regime. In this case, the Surety Insurance works to facilitate the release of imported goods.

Payment advances

Ensures that the sums received as advances for contracts are allocated to the immediate performance of the contract purpose, that is, the execution of the stage underway, all the way to its completion. This guarantee enables the release of funds to the supplier, without them having to use their own cashflow, and, for the purchaser, it is a guarantee that the funds advanced will be applied to the supply of the equipment or to the execution of the work set out in the contract.

Corrective maintenance

Ensures the execution of the corrective actions specified by the purchaser as necessary to repair the problems that arose during performance of the contract and that were the exclusive liability of the policyholder.

Bidder

This type of insurance ensures that in public or private bid processes, the policy-holding winner of the competition will uphold their proposal and sign the contract under the terms and conditions specified and by the deadline set out in the public notice. This insurance is often requested for bidding procedures such as auctions, public competitions, requests for quotation, and letters of invitation.

Construction, supply or service provision

This type of insurance guarantees compliance with all obligations assumed in a contract for construction, supply, or service provision, thus protecting the insured against the risk of breach by the policyholder.

Concessions

Guarantees fulfilment of all obligations assumed under a contract for the concession for the operation of a public utility or service such as highways, sanitation, and power.

ENERGY RISKS

ENERGY RISKS

About

Energy Risk insurance guarantees coverage for assets, equipment, and liability arising out of risks connected to oil and/or gas prospecting, exploration, drilling, and production operations, both onshore and offshore. It also guarantees coverage for projects and construction connected to this sector.

Who can/should purchase this insurance

Energy Risk insurance guarantees coverage for assets, equipment, and liability arising out of risks connected to oil and/or gas prospecting, exploration, drilling, and production operations, both onshore and offshore. It also guarantees coverage for projects and construction connected to this sector.

Advantages

Coverages for onshore and offshore risks
Coverage for projects and construction

Coverages

Operator’s Extra Expense

Coverage for all operations related to the exploration and production of an oil well, from drilling to closure, both onshore and offshore. This section includes coverages for well control (expenses for when a well-control event occurs and the well needs to be brought back under control safely); redrilling (expenses incurred to redrill or restore a well); and seepage and pollution, cleaning and contamination (expenses incurred when attempting to remove, nullify, and/or clean/dispose of any pollution, seepage, or contamination by substances released from insured wells).

Physical Damage

Coverage for damage to oil and/or gas equipment, including but not limited to tools, materials, devices, substructures, or other equipment components, both onsite and in transit.

It also includes coverage for fixed or floating platforms, as well as all their modules and facilities, including all equipment, tools, machinery, movable legs, materials, supplies, accessories, drilling rigs and equipment, drilling towers and/or drill strings, and casing pipes, whether owned or under the care, custody, or control of the insured.

Liability

Reimburses the insured for the sums for which it becomes liable relative to bodily injury and/or monetary damages, loss of life, bodily harm, or illness caused to third parties arising out of the activities relative to the oil and gas operations. Additional coverages available are Employer’s Liability, Cross-Liability, Sudden Pollution, Pain and Suffering, and more.

Offshore Construction

Coverage for oil and gas activities carried out during offshore design and construction projects such as procurement, construction, fabrication, launch, loading/unloading, land or marine transportation or installation, burial, interconnection, connection operations and/or connection parts, testing and commissioning, start-up and maintenance operations, design studies, engineering, project management, testing, excavation, and commissioning. Offers coverage options both for Physical Damage and for Liability related to the construction project.

Loss of Revenue as a Result of Business Interruption

Reimburses the insured in the event of an unexpected loss of production (or of revenue), as a result of any damage. This coverage must be linked to the coverage for Physical Damage and/or Operator’s Extra Expense.

Loss of Revenue as a Result of Network Interruption (Cyberattack)

The insured is covered in the event of an unexpected loss of production (or of revenue), as a result of a cyberattack or a network interruption. This coverage must be linked to the coverage for Physical Damage and/or Operator’s Extra Expense.

Decommissioning

Provides coverage both for Physical Damage and for Liability for decommissioning projects, which encompass the technical and engineering procedures for an offshore system that aim at the decommissioning of platform units and/or oil vessels, as well as production facilities in oil and natural gas fields during all stages of the removal process of these assets, from the dismantling of the modules at sea to final unloading in shipyards.

DIRECTORS AND OFFICERS

DIRECTORS AND OFFICERS

About

Liability insurance for directors and officers (D&O) protects the personal assets of directors and officers based on the liabilities they need to assume because of their role.

Who can/should purchase this insurance

All companies that seek to offer additional protection to their directors and officers, fulfil a direct request by them for this protection, or offer it as a competitive advantage to secure the best professionals.

Advantages

Protection for directors’ and officers’ personal assets
Directors’ and officers’ defense costs are included in covered claims
A benefit when seeking to attract the best professionals
Provides security to directors and officers when making decisions

Coverages

D&O insurance was created to cover the costs of defense and any settlements owing by directors or officers in the event of being attributed personal liability as a result of their role in the management of a company and in line with the terms of the policy. This insurance offers the following coverages:

Coverage A

Pays the insured (director or officer) directly

Coverage C

Follows a special model; is applied in cases where the company trades securities. In this case, the company can also be considered as the insured in the event of claims related to their management.

Coverage B

Pays the purchaser (company) that advanced the costs to the insured

Additional Coverages

In addition to the product’s most basic coverages, over time specific needs started arising on the insurance market. To address these needs, particular clauses, coverage extensions, additional coverages, and endorsements were devised, along with a series of changes to the clauses.

Internal Lawyers

This allows the lawyers that are part of the policyholder’s staff to be considered as insureds.

Insured’s Advisers

This allows the insured’s advisers that are part of the policyholder’s staff to be considered as insureds.

Advising and Handling Lawsuits Abroad

This coverage provides for the payment of lawyers to handle lawsuits outside of the insured’s jurisdiction.

Affiliates

This coverage enables the policy to also include affiliate companies, i.e., companies on which the policyholder has significant influence, without being a majority shareholder.

Internal Accountants, Risk Managers and Internal Auditors

Allows accountants, risk managers, and auditors who are part of the policyholder’s staff to be considered as insureds.

Voluntary Resignations

This extends the complementary time limit of insureds who have voluntarily resigned to ten years.

Piercing the Corporate Veil

This coverage ensures that insureds are covered in the event that the courts decide to pierce the corporate veil of the company.

Publicity Expenses

This coverage enables the hiring of advisors to recover the image of the insured in the event of a claim that harms its reputation.

Outside Directorship (ODL)

Extends the coverage to directors appointed by the policyholder in companies in which the policyholder has the authority to make such an appointment.

Additional Expenses for Experts

Enables the engagement of experts to assist with the technical reports for the legal defense of the insureds in the event of a claim.

New Controlled Company or Subsidiary (with up to 30% of the Policyholder’s Total Assets)

Enables subsidiaries that are created or acquired after the effective date of the policy to be automatically included under the policy, as long as their total assets are limited to 30% of the policyholder’s total assets.

Online Levy of Execution and Freezing of Assets

Enables the advance of salaries to insureds undergoing online levy of execution. The sums must be returned as soon as the online levy of execution is ended.

Unfair Labor Practices

This coverage guarantees the defense of the insured, plus any settlements they are compelled to pay, in the event of Unfair Labor Practices.

Extradition Cases

This coverage enables the defense of the insured in extradition cases.

Claims Advanced by an Outside Entity

Offers coverage in cases where the complaint is made by outside entities (legal entities where officers are specified by the policyholder).

Spouse or Common-Law Partner Liability

Extends the coverage to the spouse of the insured in the event of claims where they need to be part of the suit.

Errors and Omissions

Extends coverage to cases where the insured is involved as a result of errors and omissions by the policyholder.

Insured vs. Insured

Enables coverage for insureds in claims against other insureds. The policy will only guarantee the rights of the defendant in the case.

Retired Insured Persons

Extends the complementary time limit of retired insureds by ten years.

Policyholder vs. Insured

Enables coverage for insureds in claims entered by the policyholder itself.

Crisis Management

Enables the hiring of advisors to recover the image of the policyholder in the event of a claim that involves an abrupt and sharp drop in their share price. The policy includes a list of situations in which it is possible to use the coverage.

Emergency Defense Costs

Coverage for the costs required for the defense of an insured, if there is no time to notify the claim to the insurer.

Disqualification

The coverage will replace the salary of an insured who has been legally disqualified in a claim covered under the policy. The coverage ends as soon as the insured’s disqualification has ended or when he or she resumes paid activity.

Fines and Penalties

The coverage will pay fines and penalties, both civil and administrative, imposed on the insured as a result of claims covered under the policy up to the maximum settlement limit provided for.

Inquiry Costs

The coverage will pay for the insured’s defense in cases of inquiries or investigations by government agencies.

Consent Decrees/Agreements

The coverage will pay for consent decrees or agreements to be undertaken by the insured in the event of a claim covered under the policy.

Extraordinary Events with Regulatory Bodies

This coverage will guarantee the defense of the insured in case of a critical regulatory event, which is understood as an official procedure by the authorities involving the production of documents.

Environmental Liability for Officers and Directors

This coverage guarantees the costs of defense, plus any settlements owed by the insured, in claims involving environmental damage. Costs for required clean-up are not covered.

Environmental Liability for Officers and Directors (Only for Defense Costs)

The coverage guarantees the insured’s costs of defense in claims involving environmental damage.

ERRORS AND OMISSIONS

ERRORS AND OMISSIONS

About

Errors and Omissions (E&O) protects companies and professionals from any potential settlements owing to third parties for damage caused during the provision of services.

Who can/should purchase this insurance

All companies that provide any type of service and believe that they could cause damage to a third party as a result of their activity.

Advantages

Protection of assets against unexpected errors in the service provision
Defense costs included in covered claims
Complementary timeline allows for protection even after delivery of the service
Additional security for the purchaser’s client

Coverages

E&O insurance was created to cover the costs of defense and any settlements owing by the insured in the event of the determination of legal liability as a result of errors in the service provision that causes damage to third parties, in line with the terms of the policy.

Additional Coverages

In addition to the product’s most basic coverages, over time specific needs started arising on the insurance market. To address these needs, particular clauses, coverage extensions, additional coverages, and endorsements were devised, along with a series of changes to the clauses.

Monetary Damages

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision that cause monetary losses to third parties.

Bodily Injury

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision that cause bodily injury to third parties.

Pain and Suffering

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision that cause pain and suffering to third parties.

Costs of Defense

This coverage enables the policy to pay the insured’s defense costs for claims by third parties as a result of errors in service provision.

Costs of Defense for Police Inquiries and Criminal Suits

This coverage enables the policy to pay the insured’s defense costs for police inquiries and criminal proceedings as a result of errors in service provision.

Disbursement of Retained Fees

This coverage will compensate the insured for retained fees (except profit margin) by clients of the insured, in the event of errors in the provision of services covered under the policy. The coverage will only be valid in the event the third party commits not to subsequently file a claim relative to the event for which the fees were retained against the insured.

Consultants, Contractors, Subcontractors, Third-Party Providers and Agents

This coverage extends the classification of insured to consultants, contractors, subcontractors, third-party providers, and agents of the insured.

New Subsidiary (with up to 30% of the Policyholder’s Total Assets)

This coverage extends the classification of insured to subsidiaries that are created or acquired after the effective date of the policy, as long as these subsidiaries hold up to 30% of the policyholder’s total assets.

Runoff Coverage for Mergers and Acquisitions

This coverage enables the policy to be effective for events occurring before the insured’s mergers and acquisitions.

Liability in Joint Ventures

This coverage extends the classification as an insured to joint ventures of which the insured is part.

Crisis Management/Publicity Expenses

This coverage enables the insured to engage advisors to recover its image after an incident covered under the policy causes harm to its image.

Dishonest Acts by Employees

This coverage enables the policy to pay settlements owed by the insured to third parties as a result of errors in service provision caused by dishonest acts by its employees.

Violation of Intellectual Property Rights

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision that cause a violation of third parties’ intellectual property rights.

Loss, Theft and Robbery of Clients’ Documents

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision caused by the loss, theft, or robbery of clients’ documents.

Emergency Costs

This coverage enables the policy to pay the insured’s defense costs in the case of claims where the insured did not have enough time to notify the insurer.

Court Appearance

This coverage enables the policy to pay the travel expenses of the insured in cases where the claim is entered outside of his or her habitual jurisdiction.

Defamation

This coverage enables the policy to pay settlements owed by the insured as a result of errors in service provision that cause defamation to third parties.

Articles

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