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Tata AIG Insurance Company’s D&O Insurance

TATA AIG’s Directors Liability Insurance Policy is one of the most preferred D&O insurance plans. This D&O policy covers directors, officers and employees for the decisions made and actions taken by them while performing the duties. This policy provides coverage against litigation arising from employees, customers, vendors, shareholders, and general public, at economical premiums. This insurance policy safeguards the insured person, company and company securities against claims made during the policy period (or discovery period, if applicable) as per terms and conditions of the policy. This policy also covers extensions such as cover for regulatory crisis response, cover for assets and liberty costs including prosecution, bail bond and civil bond expenses, cover for damage to reputation, cover for heirs, estates and legal representatives, emergency costs cover, special excess protection for non-executive directors etc.

Compare Tata AIG for Directors Officers Liability Insurance

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Highlights

Presence in more than 160 jurisdictions

Dedicated team for risk advisory and safety installations

Served 5 Cr+ Customers since Inception

Issued 1 Cr+ Policies last year

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply.

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Tata AIG General Insurance Company’s Overview

TATA AIG General Insurance Company Limited is a joint venture between Tata Group and American International Group (AIG). This insurance company started operations in India on January 22, 2001 and has completed 23 years of service as on 2023. This insurer offers a wide range of general insurance products for businesses and individuals. The list of these general insurance products includes Liability, Marine Cargo, Travel, Rural Agriculture Insurance, Extended Warranty, Personal Accident, Travel Insurance etc. Tata AIG has a workforce of 7941+ employees, including 750+ claim experts spread over 150 locations, a worldwide network of claim servicing partners and a dedicated customer service & operations team.
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On Directors Officers Liability Insurance

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

TOP PLANS

Directors Officers Liability Insurance

By Tata AIG General Insurance Company Limited

Industry
Asset Reconstruction Company
Industry
Asset Reconstruction Company
Limit of Liability
5 Crores
Limit of Liability
5 Crores
Comprehensive Cover
Sub-limits Applicable
Comprehensive Cover
Sub-limits Applicable
Premium excluding taxes
Rs.60,000
Premium excluding taxes
Rs.60,000

Directors Officers Liability Insurance

By Tata AIG General Insurance Company Limited

Industry
Real Estate Development Company
Industry
Real Estate Development Company
Limit of Liability
3 Crores
Limit of Liability
3 Crores
Comprehensive Cover
Sub-limits Applicable
Comprehensive Cover
Sub-limits Applicable
Premium excluding taxes
Rs. 65,000
Premium excluding taxes
Rs. 65,000
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How to buy a TATA AIG’s Directors and Officers Liability Insurance Policy?

Buying TATA AIG’s Directors and Officers Liability Insurance Policy has become very easy. One can buy this policy by following the below mentioned steps:

1. Send us your proposal details along with your name, contact number, email id and address at support@securenow.in

2. Select the coverages and premium you want to go ahead with, from the quote comparison we will share with you on receiving the request for proposal

3. Fill the proposal form and share the financials (as the same are requested by insurer for policy booking)

4. Make the payment via NEFT details

5. Your policy copy will get issued to your registered email id within 7-10 working days once the payment is made

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Buy Tata AIG's Directors and Officers Liability Insurance coverage upto 15 Crores*

Premium starting from ₹22,525 per annum*

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TATA AIG’s Directors Liability Insurance Policy Benefits at a Glance:

ParticularsCoverage
Affordable Premiums
Claims made principleClaims must be made during policy period
Advancement of Defence costs
Right to defend cover
Cover for Subsidiaries
Outside Directorship coverage
Cover for Retired Directors
Employment Practice Liability (EPL) cover for directors and officers
Cover for failure / negligence to supervise against any Professional Indemnity related claims
Cover for Regulatory Crisis Response
Cover for Assets and Liberty Costs including prosecution, bail bond and civil bond expenses
Cover for damage to reputation
Cover for Heirs, Estates and Legal Representatives
Bilateral Discovery Period
Emergency Costs cover
Kidnap response cover
Special excess protection for non-executive directors
Cover for pollution related claims for defence costs and shareholder claims
Severability

*Excess and Sub-limits applicable

How to renew TATA AIG’s Directors Liability Insurance?

To continue availing last year's policy benefits, insurance policies should get renewed timely without any break. For renewals, our team sends reminder emails to clients 30 days before the due date of the renewal of the policy. The client is required to respond to our calls and emails and confirm us the coverages. We share the quote, proposal form a NEFT details of the insurer with the customer 15 days before the policy's renewal date. The client is requested to fill in and share the proposal form and make the payment timely. The policy copy will get issued to the client’s registered email id within 7-10 working days once the payment is made.

To renew your D&O policy (other than TATA AIG's), the client is supposed to share with us the last year policy copy and updated claims MIS at support@securenow.in. You can also reach out to us at +91 9696683999 and take assistance for completion of D&O policy's renewal process.

How to file a claim under a TATA AIG’s Directors and Officers Insurance Policy?

  • You are requested to give us a written notice of the claim made against the insured or any circumstance/circumstances that may give rise to a claim
  • You are requested to give the written notice of the claim at the address specified in the policy at the earliest but not later than 30 days from the end of policy period or discovery period. The notice should include (but not limited to):
    • Reasons to anticipate a claim (or circumstances)
    • Filled and signed claim form
    • Other information or documents relevant to the claim/circumstance
  • Standard Exclusions of TATA AIG’s D&O Policy:

  • Prior Claims & Circumstances
  • Deliberate dishonest or fraudulent act
  • Bodily Injury/Property Damage claim with carve back for defense cost
  • Frequently Asked Questions

    As on 31st March 2023, the gross written premium recorded by TATA AIG Insurance Company is Rs. 10,686 crores.
    Directors and Officers Insurance covers the personal liability of directors & officers arising out of wrongful acts done by them in their managerial capacity. This insurance provides cover for defense cost, settlements, and financial losses for claims brought against the insured for breach of fiduciary duty, failure to comply with regulations, lack of corporate governance, reporting errors and creditor-claims.

    In TATA AIG’s Directors and Officers Policy, below mentioned coverages are there:

  • Coverage under Side A: In Side A, directors, officers and managers of the company are covered. In this side the insurer pays the loss of an insured person for any wrongful act, errors or breach of duty, when a company cannot pay for the same
  • Coverage under Side B: In Side B, company is covered and the insurer reimburses the loss of the company for a wrongful act, to the extent that the company has indemnified the insured person
  • Coverage under Side C: In Side C, companies listed on stock exchange are covered. In this, the policy covers the company against liabilities arising out of any securities-related grievances
  • To get a quote for D&O insurance coverage, one should share the below details:
  • Industry Type
  • Annual turnover of the Company
  • Gross Consolidated Assets
  • TATA AIG Insurance Company issues the D&O liability insurance policy in 7-10 working days once the payment is made.
    The list of mandatory documents required to file a claim under TATA AIG’s Directors & Officers Liability policy include:
  • Duly filled in and signed claim form
  • Claim notice
  • Copy of the policy document
  • Any other document relevant to the circumstance/claim
  • FAQ Insurer Image