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Frequently Asked Questions (FAQs)

Frequently Asked Questions

Find answers to questions related to Professional Indemnity Insurance for Company Secretaries.

 

A Professional indemnity insurance provides coverage when a client pursues an action against you for a breach of professional duty arising from an act, error or omission in the course of your professional business practice. The policy would usually cover any legal costs and other expenses incurred in your defence, as well as damages or costs that may be awarded against you to your client. 

Annually. However, short rate premium is chargeable for short policy period to coincide with MACS' Master Policy program.

Short Rate Premium:

• 10-month to 12-month policy period - 100% of annual premium

• 7-month to 9 month policy period - 75% of annual premium

• 4 month to 6-month policy period - 50% of annual premium

• Less than 3-month policy period - 25% of annual premium 

You are required to complete a Proposal Form and it must be duly completed, dated and signed for our further assessment. It is important that you disclose to us on the claims history you have made in the past by providing us with the details of the claim details for our review.

Standard Premium table is not applicable, in the event where: -

a. Any claim history / notification

b. Limit of indemnity is above RM5,000,000.00 

Excess is the amount that Berjaya Sompo Insurance Berhad does not cover in the event of claim happen. 

You may cancel your policy by giving written notice to us. Upon cancellation, you are entitled to a refund of the premium for the unused period on a pro rata basis. No refund premium is allowed if there is a claim under the policy. 

Please notify to Marsh via email at  SUPPORT@MARSH.COM attached with supporting documents. 

The premium must be paid and received by Marsh before the cover commences. 

Coverage can be custom according to your needs. Please email your requirements and limit of indemnity to Marsh at SUPPORT@MARSH.COM

You must be a member of MACS.

              

                                                                                                       Note:  Please refer to the Policy Wordings for the full terms and conditions under this Policy.