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    Pension trustee liability

    Management liability in Specialty lines

    Pension trustee liability

    Nicholas Tey

    Nicholas Tey

    Regional Manager - Asia

    Insurance to protect the plan, its trustees and the associated company.

    We have developed insurance to protect the plan, its trustees and the associated company for any related indemnity that they provide. Cover includes:

    • Regulatory costs
    • Data breach
    • Contribution notices
    • Extradition and repatriation
    • Foreign jurisdiction liberalisation
    • Full limit mitigation costs cover
    • Damage to reputation
    • Freezing of assets and disqualification.

    The cyber challenge

    It is all too easy to think of data breach as a single risk facing an organisation. The reality is that it constitutes a whole range of risks and the prevalence of each change over time.

    Beazley pioneered the development of data breach related insurance and, as a market leader in the field, we have helped clients handle over 7,000 data breaches since 2009. As illustrated in the following two snapshots, our experience provides a valuable insight into the challenges faced by organisations and their officers in preparing for, and dealing with, the changing nature of incidents:

    • Ransomware attacks were over four times more numerous in 2016 than in 2015.
    • Unintended disclosure, most often emails or faxes sent to the wrong recipient, represented 32% of breaches in 2016, up from 24% in 2015.

    Source: Beazley breach insights

    Our international management liability policies include data breach cover as standard.

    Limits

    Up to US$25,000,000

    Target market

    A broad range of organisations can benefit from Beazley’s specialised cover.

    Territories

    Worldwide (excluding United States domiciled organisations).

    Pension trustee liability team

    Underwriters

    Clara Han

    Underwriter

    Clara Han

    Singapore

    Gordon Lam

    Underwriting Manager

    Gordon Lam

    Singapore

    +65 6576 6287

    Teck Siong Ng

    Underwriter

    Teck Siong Ng

    Singapore

    Nicholas Tey

    Regional Manager - Asia

    Nicholas Tey

    Singapore

    Audrey Wong

    Underwriting Assistant

    Audrey Wong

    Singapore

    Pension trustee liability forms

    Fact sheets

    Beazley financial lines factsheet - Asia

    Wordings / policies

    Pension trustee liability policy wording - Hong Kong
    Pension trustee liability policy wording - Singapore