Financial Services
It provides coverage against the damages claimed by the parties who suffer losses due to the wrongful acts (unintentional error, negligence, misrepresentation, violation, etc.) and wrong decisions made by the Members of the Board of Directors and Managers of the company while fulfilling their duties on behalf of the company. Executive liability insurances are “"Claims Made"policies.
Who are included in the Coverage?
Any member of the board of directors, manager or administrator, committee member, director or any company employee acting as a supervisor in the Company and its subsidiaries,
Risk manager or equivalent company employee,
Board members, executives, managers, administrators and employees of the companies acquired during the contract period and which are subsidiaries of the Company,
Members of the Board of Directors and executives serving in a company that is not a subsidiary (External Organisation) at the specific order and request of the Company,
Retired company executives are included in the coverage
What are the Main Coverage?
Members of the Board of Directors & Managers
Company Indemnity
Non-Executive Members of Board of Directors
Securities Claims Against the Company
Additional Coverage;
Defence costs for material damage and bodily injury
Extended notification period
Extended notification period
Costs incurred in emergencies
Critical incident costs
Prevention of large-scale damage
Prosecution costs
Costs of surety bonds and guarantee bonds
Damage to reputation
Expenses related to abduction cases
New subsidiaries acquired during the policy period
In professional liability insurances, it provides protection against damages that the insured will have to pay due to damages they may cause to third parties as a result of inadequate and / or faulty operations while performing their professional activities.
Professional liability insurances are policies issued on a"Claims Made""Claims Made" basis.
Conditions Excluded from Coverage
I. Compensation claims arising from the insured's activities other than the professional activities specified in the policy and whose limits are determined by the rules of law or ethical rules
II. All kinds of incidents and behaviours intentionally caused by the insured during the performance of professional activity
III. Incidents occurring as a result of the insured or his/her employees being under the influence of alcohol, drugs or narcotic substances while performing the professional activity specified in the policy