The inherent skills & risk-taking ability of entrepreneurs has made India, a
world leader in innovation resulting in mushrooming of StartUps. We are witnessing paradigm shift in the way
new concepts & technology is being adapted leading to more
innovation.
We at WMG Risk Advisory ensure that each startup understands the likelihood
and potential severity of the risks at bay, the potential cost of not mitigating these risks and the options
available to mitigate them. We ensure startups concentrate
on their core operations & innovation and enable them to make informed decisions that balance their risk
appetite with our unique insurance solutions.
Finding the right insurance covers for your startup may seem daunting, but we
are here to help.
Tailor made solutions for Start-Up
Director’s & Officer’s Policy (D&O):
What does it cover?
It covers the damages and legal costs incurred by Directors and
Officers arising out of claims brought against them personally due to any wrongful acts done in
their capacity as a Director or Officer of the company. Adequate limit
of Liability (indemnity Limit) will be offered with competitive premium and lower deductibles.
Why do you need it?
Ensures that the company and its leadership is protected against
any allegations regarding the breach of fiduciary duty and other management-related claims. It
provides the necessary financial support to absorb certain legal costs
without mortgaging the future of the entire organization.
Commercial General Liability (CGL):
What does it cover?
Comprehensive coverage faced by an organization against liability
losses arising out of legal wrongs or torts which may result from bodily injury and property
damage. An unintentional injury to a person or property as a result of negligence
is the primary scope.
Why you need it?
It forms the foundation of any company’s risk management program.
Apart from protecting the company from legal liability caused by bodily injury or property
damage, this coverage is usually required in commercial contracts like office
leases and vendor agreements.
Assets Insurance (Fire / Property Insurance):
What does it cover?
The coverages & rates would be very competitive across all segments of risks (Viz.,
Building, Furnishings & Contents, Electronic equipment, Portable Electronic items, Plant &
Machinery, Money, Fidelity, Loss or profit / rent etc.,)
The policy specifically designed for this segment writes as an exception stand-alone
portable electronic items (Laptops / Mobiles / Ipads) Insurance.
Why you need it?
In contrast to liability insurance, which is a last resort for
asset protection, property insurance is your first line of defense when your property is
damaged.
Group Mediclaim (GMC) Insurance:
What does it cover ?
We can write this policy for as low as 5 employees or 15 lives.
On case-to-case basis, we can also consider giving instalment option (subject to Underwriter
/ Insurer concurrence)
Why you need it?
Providing benefits to employees is seen as managing high-risk
coverage at low costs and easing the company’s financial burden. Employee benefits have been
proven to improve productivity because employees are more effective when they
are assured of security for themselves and their families.
Other critical policies like Group Personal
Accident (GPA), Group Term Life Insurance (GTLI), Professional Indemnity / Error’s &
Omission’s Insurance (PI / E&O), Cyber Insurance, Crime Insurance, Marine, Credit
Insurance (Receivables cover for both Export & Domestic Sales) etc., can be offered
depending on the clients’ requirement. We will also consider offering Tie-In limit and bundle
multiple policies under a single Indemnity limit.
This would hugely benefit the start-ups while managing their payments.
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