Bajaj Allianz Protect SME Directors and Officers Liability Insurance

Bajaj Allianz General Insurance Co. Ltd. is conducting general insurance business in India since May 2nd, 2001. The company is more than 2 decades old and has served more than 11 Crore customers. The company offers multiple general insurance policies. Under the SME category, the company offers D&O Insurance policy by the name of “Protect SME Directors and Officers Liability Insurance”.

Bajaj Allianz Protect SME Directors and Officers Liability Insurance: Inclusions

The company provides coverage for the following perils:

The insurer will compensate to or on behalf of the insured or the company for any loss or damage arising out of any actions taken by the directors and officers during their employment.
The insurer will pay to or on behalf of an insured director or officer for any expenses incurred in legal representation during the policy period.

*To learn about the inclusions provided by Bajaj Allianz D&O insurance policy, refer to the policy wording of the plan.

Bajaj Allianz Protect SME Directors and Officers Liability Insurance: Exclusions

The insurance policy does not provide coverage for the following perils:

The insurance policy does not provide cover for any wrongful act committed by the insured with the knowledge that it was a breach of contract, statute, duty or legal obligation.
If the insured is gaining any personal profit, remuneration or advantage to which they were not legally entitled to.
The insurance plan does not provide coverage for any bodily injury, sickness, emotional distress or death of the insured.
The insurance policy will not provide coverage for any claim raised by director or officer holding 15% shares of the company.

*To learn about the exclusions under the Bajaj Allianz D&O insurance policy, refer to the policy wording of the plan.

Bajaj Allianz Protect SME Directors and Officers Liability Insurance: Claim Process

To raise the claim under this insurance policy, follow the steps given below:

Inform the insurer if any customer files a case against the insured
Ask the insurer for claim form, fill it up, sign it and submit it along with the required documents
Tell the insurer in case the policyholder receives any legal notice
Also, inform the insurer, if any proceeding has been initiated in the court
The insurer will send a surveyor to get a better understanding of the situation
Once the insurer is satisfied with the information provided by the insured, they will settle the claim.

Bajaj Allianz Protect SME Directors and Officers Liability Insurance: Required Documents

For the insurer to initiate the claiming process, insured will have to submit the following documents along with the claim form:

Copy of Aadhar card
Copy of PAN card
Address proof of the insured location/organisation
Any other documents as per the insurer’s requirement

FAQs

Q1. Does the Bajaj Allianz D&O insurance policy provide cover for the claims raised against the director or officers with holding major percentage of shares of the company

Ans: No, the insurance company does not provide coverage to the directors or officers holding more than 15% of shares of the company/organisation.
Q2. If the insured commits a breach of contract and get sued for it, will the insurer provide cover for it?

Ans: No, the insurer will not provide coverage if the insured commits a breach of contract.
Q3. Will the insurer provide coverage for the legal expenses such as lawyer’s fee?

Ans: Yes, the insurer provides coverage for the legal expenses such as lawyer’s fee under Bajaj Allianz D&O insurance policy.
Q4. Does the insurer provide coverage for injury, sickness or death under D&O insurance policy?

Ans: No, the insurer does not provide coverage for injury, sickness or death under D&O insurance policy.

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Disclaimer: Above mentioned insurers are arranged in alphabetical order. Policybazaar.com does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

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Bajaj Allianz Protect SME Directors and Officers Liability Insurance

Bajaj Allianz Protect SME Directors and Officers Liability Insurance: Inclusions

Bajaj Allianz Protect SME Directors and Officers Liability Insurance: Exclusions

Bajaj Allianz Protect SME Directors and Officers Liability Insurance: Claim Process

Bajaj Allianz Protect SME Directors and Officers Liability Insurance: Required Documents

FAQs

Q1. Does the Bajaj Allianz D&O insurance policy provide cover for the claims raised against the director or officers with holding major percentage of shares of the company

Q2. If the insured commits a breach of contract and get sued for it, will the insurer provide cover for it?

Q3. Will the insurer provide coverage for the legal expenses such as lawyer’s fee?

Q4. Does the insurer provide coverage for injury, sickness or death under D&O insurance policy?

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