Qian Insurance Broking is a leading insurance broker in India focusing on providing liability insurance solutions to corporate clients across the country. The firm specializes in Directors and Officers Liability Insurance Policy and Cyber Risk Insurance Policy in India.Their team of experts helped many companies with their D&O Insurance requirements and Cyber Insurance Requirements over the years. In addition to its risk management services.
In response to a query regarding the cost of D&O Liability Insurance Policy, Qian's spokesperson said," D&O Insurance premiums have risen by 20% in the last few years. The rise in D&O Insurance cost has been driven by an increase in employment related claims against the directors and officers such as wrongful termination, harassment, discrimination etc. Additionally, many companies declared bankruptcy in the last few years resulting in additional D&O Claims.
Adding with respect to the Directors and Officers Insurance Policy, the spokesperson added, “A Directors & Officers Liability Insurance Cover provides coverage for wrongful acts committed by the Directors and Officers in their managerial capacity. The D&O Policy will pay the legal costs and compensatory damages for the wrongful acts.”
Commenting on the impact of CoVID on the cost of Cyber Insurance Policy, Umang Shah, Co-Founder
Qian Insurance Broking said, “The CoVID pandemic had the unintended impact where employees were asked to work from home. As a result, many employees started working on their personal laptops which had weak cybersecurity measures such as firewall, antiviruses etc.
Adding further, “In order to offset the increased losses as well as change in working environment post-CoVID, there has been an increase in Cyber Insurance Premiums in India. The cost of a Cyber Insurance Policy* has increased by 30%-50% in the last 3 years.”
“Recognising the need of quality advice with respect to Cyber Insurance Policy, Qian launched Cyber Insurance Policy immediately post-CoVID. Cyber Liability Insurance Policy demand has been on the rise given the increase in data breach incidents and the increasing magnitude of losses,” Umang Shah said.
Umang Shah further added, "A Cyber Risk Insurance Policy pays of First Party and Third Party Liability as well as expenses following a Data Breach Incident such as E-Threat Cover, E-Vandalism Loss, Forensic Costs, Data Restoration Costs etc"
Qian has established partnerships with top D&O Insurance Providers and multiple Insurance Companies providing Cyber Insurance in India for providing comprehensive D&O Insurance and Cyber Insurance solutions to their clients. Qian's goal is to be proactive in addressing customer needs and seek to mitigate the various business risks by means of comprehensive insurance solutions. Their customer-first approach has resulted in Qian becoming a leading insurance broker in India in the last 5 years.
About Qian
Qian Insurance Broking LLP is a leading insurance broker in India specializing in providing comprehensive insurance solutions to corporate customers across the country. Qian has a dedicated team of experts for complex insurance products such as Directors & Officers Liability Insurance Cover, Trade Credit Insurance Policy and Cyber Insurance Policy.