Management Liability

Helping directors face the future and conduct business with confidence

Why Choose AIG Management Liability Insurance?

The misconception that privately held companies do not need management liability insurance can be financially devastating to companies and their executives if they are faced with legal action. In Singapore's increasingly litigious business environment, companies and their directors and officers are subjected to more onerous duties and responsibilities, and face a growing risk of being the target of legal action as a result of the management and business decisions they take.

Directors and Officers (D&O) insurance cover from AIG assures that our clients will have the highest quality legal representation and assistance from the first moment that an action commences. Dragonshield™ is our best-ever suite of management liability insurance solutions, designed from scratch to meet the needs of our business partners in Asia.

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The AIG Advantage

Local perspective, global expertise

Our deep Financial Lines expertise runs throughout AIG’s extensive global network. This means we can issue best-class local policy wordings for clients with overseas and multinational exposures and service their claims needs with local claims teams.

Solutions focused

AIG is a world-leading D&O, Cyber, PI and ML insurer and handles thousands of claims every year. Whatever kind of Financial Lines claim clients face, we have probably seen something similar before, so clients and their brokers are in safe, experienced hands when they need us most.

Easy to do business with

Our Financial Lines products are designed for private and public businesses and organisations of all sizes from SMEs to Multinationals in all business sectors.

AIG Management Liability Solutions

Public and private companies, partnerships and "not for profit" entities.

Dragonshield^TM Corporate Liability Insurance

Customised for medium to large size and/or listed companies.

Market Leading Coverage:

Exclusive Value-Added Services including a free corporate governance training sessions by Clyde & Co.
No proposal form required at renewal
Automatic Renewal Option
"Difference in Conditions" cover for the previous policy. In the event of a claim, if the previous policy has a broader coverage aspect than DragonshieldTM, terms and conditions of the previous policy will apply.
Global Liberalisation - "Difference in Conditions" cover where local AIG policy provides better coverage.
Elective Side A Reinstatement option to purchase a Side A reinstatement of the limit a Claim is reported.
Investigation Costs for Derivative Demands cover for investigation costs incurred by the company where a derivative demand is served by shareholders
No Pollution Exclusion (subject to individual risk profile)

PrivateEdge Insurance

Customised for private companies with total asset size less than SGD 50 million.

Coverage Highlights:

Management and Corporate Liability Cover

PrivateEdge reimburses the Company, its directors or officers for the loss resulting from any claim alleging a wrongful act. The coverage highlights are as follows:

Protection for company and natural persons
Additional indemnity limits for board of directors
Defence costs relating to breach of contract claims
Indentity Fraud coverage for the Company when any party other than the employee of the insured Company fraudulently represents the insured Company
Crisis event - public relations consultation
Investigation costs coverage
Public Relation expenses for corporate manslaughter
Bodily injury and property damage defence costs
Emergency costs - coverage incurred before written approval is obtained from the Insurer if Insurer's consent cannot reasonably be obtained
Civil fines and penalties where insurable by law
Lifetime discovery period for retired managers
Extradition costs
Insured Person's Tax Liability Cover
Asset and Liberty Cost ensures timely defence when an asset is confiscated or the liberty of the director or officer is restricted
Public relations expenses other than Crisis Event expenses
Court attendance allowance
Reproduction cost of lost or damaged documents
Automatic cover for new subsidiaries
Continuous cover provision - provides cover for claims not notified prior to commencement of renewed policy period (thereby providing incentive for renewal)

Indemnity Limits:

A quotation can be provided to eligible clients on site up to the following limits of liability with the completion of the Quick Application Form. Higher limit of liability options are also available on request.

Management and Corporate Liability: S$5 million

Employment Practices Liability: S$1 million

Product Details

Dragonshield™ is our best-ever suite of management liability insurance solutions, designed from scratch to meet the needs of our business partners in Asia.

Designed in Asia for local, international and global businesses, we believe our management liability insurance solutions will give directors and company officers the confidence to make the right decisions for their businesses.

What's new?

We've expanded our market-leading D&O cover, Dragonshield™, into a suite of complimentary products offering our clients the greatest possible protection.

Dragonshield™ Entity Investigation Cover

Complimentary cover with the DragonshieldTM D&O policy offering true entity cover for investigations (separate limit of liability).

Dragonshield™ POSI

The market's leading IPO form mirroring the dynamic cover in the DragonshieldTM D&O policy.

IPO Boost

Transferrable limits from the POSI form to the D&O policy over a period of 3 years. Cementing the reason to purchase both D&O and POSI cover during an IPO.

Additional features

BIPD Exclusion: provides carve-backs for Non-Indemnifiable Loss, Insured Persons Defence Costs and Securities Claims.
Future Securities Offering: extends to cover all Non-US securities offerings (including IPO in another country).
Tax Liability: also covers unpaid corporate taxes of the Company where the Insured Person’s liability for such non-payment of tax is established by law.
Securities Claim: amended to meet the regulatory procedures faced by Asian companies.
Civil Fines and Penalties: affirmative cover for violation of the FCPA, 15, USC Section 78dd–2(g)(2)(B) and Section 78ff–2(c)(2)(B).
Regulatory Crisis Event Costs: expanded pre-investigation cover (internal investigations).
Specialist Counsel: counsel costs for advice on any Securities Claim in any foreign jurisdiction.
US IvI Exclusion: amended by no longer excluding claims by insured persons.
Mitigation Costs / Mitigation Prosecution Costs: pre-claim cover for the principal purpose of avoiding a Claim being made by a potential claimant.

Want to learn more?

Please contact your broker for more information about DragonshieldTM, or contact us directly at AIGSGPFSPC@aig.com

A standalone policy that serves to protect companies, directors, and officers from claims arising from a company’s capital raising.

In any initial public offering or private placement, errors or omissions in a prospectus, offers information statement or profile statement can put the issuing organisation and the directors and officers involved, at risk. They should be protected against damages awarded against or settlements negotiated with the insured, including costs of defending such suits, legal costs and expenses awarded.

Provides broader, more relevant coverage, with fewer restrictions and more unique value added services.

Provides flexible and comprehensive protection and services to cope with the downsides that occur in business for private companies.

Provides flexible and comprehensive protection and services to cope with the downsides that occur in business for "Non for Profit" entities.
The specific terms, conditions and exclusions applicable to this insurance are as set out in the policy.