Financial Services

As Asian economies continue to grow and increase their connectivity with the rest of the world they are facing new risk factors that they have hitherto encountered. A wealthier and more litigious middle class, heightened shareholder expectations, scrutiny of directors performance, an increased reliance on technology and the inherent risks of doing business in emerging markets all present new exposures that cannot be easily managed without the backup of insurance.

Lockton Financial Services (LFS) Asia-Pacific is our regional practice devoted exclusively to the management of these risks. We are part of global team of more than 100 experienced and specialized professionals around the world that helps clients manage boardroom and financial risk.

You have access to some of the most savvy professional and executive liability experts. They will work with Clients to help translate your firm’s story into a marketable program to protect your company. Our teams place more than $500 million worldwide in executive liability premiums annually, and we have earned the respect of the leading insurance markets.

We start by reviewing your business and key issues. We analyze benchmarks and market trends to identify opportunities to improve your existing program and ask probing questions to understand your risk appetite, so we find just the right fit. Then we negotiate cutting-edge, custom-designed terms and conditions to meet your unique needs.

Our business consists of four key areas:

  • Executive & Financial Risks
  • Cyber & Technology Risk
  • Professional Indemnity
  • Transactional Risks

Executive & Financial Risks

Know Your Exposures

Changing corporate governance standards bring new requirements for corporate risk management. Lockton is on top of it. Our team of specialists will work with you to understand your exposures, reduce your risks, and keep you compliant.

First, Lockton's business risk experts identify the issues that may affect your company's financial performance. Then we come up with solutions. As your partner, we:

  • Educate your executive team on risk management and risk transfer solutions.
  • Differentiate your company with the underwriting community in order to obtain optimal risk transfer options.
  • Provide ongoing communication of changes - legal and regulatory – that may affect your company.

Executive Risk Exposures

Directors and Officers Liability

Companies and their directors and officers face increasingly strict regulations and a hostile litigation environment. A decision that adversely affects shareholders, employees, customers, or creditors, or that runs afoul of a regulatory issue, can lead to a lawsuit that may leave individuals personally liable. A Directors & Officers Liability policy (D&O) offers protection to both individuals and the company balance sheet as a result of negligent wrongful acts.

D&O insurance is intended to provide cover for directors, officers and other insureds--including the company itself in certain circumstances--for liability that arises out of their role as directors or officers of the company.

Of course, while directors and officers coverage is subject to some exclusions and other coverage terms, the policy typically will pay for defense costs, settlements, and judgments, typically in excess of a deductible for those claims.


Employment Practices Liability

As an employer, you face many risks, from breach of contract to discrimination. Choosing the right employment practices liability insurance program takes careful consideration. Lockton understands the issues. We know how to protect both your company and its employees, and our specialists tailor policies that suit your organization’s needs.

Employment practices liability insurance protects your company against the financial losses associated with employment litigation. This may include reimbursement for settlements, judgments, and the expense of defending yourself when you are accused of:

  • Breach of employment contract
  • Discrimination against employees or prospective employees
  • Wrongful Termination
  • Sexual or other harassment

An effective policy also protects against the implications of changing employment legislation. Your Lockton experts will make sure you are covered.


Errors & Omissions / Professional Liability

When a product or service allegedly fails and causes financial damage, your company may face a legal dispute. Lockton experts ensure you have the protection you need.

An errors and omissions or professional liability policy covers the defense and settlement expenses associated with professional services provided by a consultant, designer or professional (lawyer, healthcare worker, accountant, engineer, etc.). Such policies also cover products such as technology and other equipment.



If an employee steals money, securities, or property from you or a client, a crime policy reimburses you. Lockton’s experts help you choose the right coverage for your company.

A crime policy can also provide coverage from illegal acts of third parties, such as computer fraud, wire transfer fraud, and robbery/burglary that result in a loss.


Kidnap and Ransom

In a kidnapping crisis, having the right insurance policy becomes critical. Lockton’s expert kidnap and ransom team has years of experience handling all forms of kidnap, ransom, extortion, and detention risks.

We have access to all the major insurers for this class of business, two of whom grant us facilities under which we can cede risks for sums insured up to $50 million for any one event. The product offering under these facilities enjoy the exclusive services of highly regarded crisis response consulting companies, a very important feature of the policy when considering this coverage.

Our experts handle matters of critical importance with absolute confidence. We provide coverage for individuals, families, and all types of corporate organizations, wherever you are.

Coverage includes:

  • Kidnap
  • Extortion
  • Detention
  • Personal accident (as the result of an insured event)
  • Products extortion
  • Hijack
  • Loss of earnings


Specie & Fine Art

At Lockton our Specie & Fine Art team have built a first class reputation with the major insurance markets enabling us to provide a knowledgeable and timely response to our clients.

This reputation and relationship is what ensures that we can provide our clients with the most effective coverage and cost to suit their business needs.

You can take advantage of our proven track record as we can facilitate a fast and efficient placement. Our expertise caters for all lines of Fine Art and Specie insurance.

Coverage includes:

  • Armoured car/cash in transit
  • Bankers specie/shippers interest
  • Vault risks
  • Fine art collections
  • Bullion
  • Metals and minerals
  • In-bond merchants
  • Jewellers block
  • High net worth private clients
  • Museums and exhibitions


ERISA Fidelity Bond Coverage

If your company offers employee benefits subject to the Employee Retirement Income Security Act (ERISA), you are likely required to maintain an ERISA fidelity bond to protect the benefit plans against theft or other acts of dishonesty.

This coverage, which insures your benefit plans, is distinctly different from fiduciary liability coverage, which protects plan fiduciaries from claims by disgruntled participants and beneficiaries. Lockton experts can help you.


Fiduciary Liability

When you offer retirement and other benefit plans, you face the risk of litigation from employees and others stemming from the management and administration of those plans – even if you use a third-party administrator. Lockton’s experts can help protect you.

A fiduciary liability insurance policy covers lawsuits alleging breach of fiduciary duty or similar claims with regard to retirement and other benefit plans.


Cyber & Technology Risk

Your Trusted Advisor on Cyber Liability

Cybersecurity is no longer only a technical challenge owned by the IT department. The ground is shifting fast as cyber risks evolve across the enterprise to become a governance issue that starts in the boardroom.

The consequences of a data breach now extend beyond security and privacy liability to include property damage, bodily injury, and business interruption losses. Given the challenges of prevention and the increasing likelihood of an attack, enterprises must adopt a resilience strategy to minimize the impact. Lockton’s global team of experts will help you harden your defenses and prepare you to respond and recover quickly.

Supporting Your Executive Team

  • Identifying the “crown jewels” – the critical corporate assets you want to protect
  • Assessing the maturity of the controls used to protect those assets
  • Devising a cyber risk management strategy that addresses your people, processes and technology
  • Building resilience around your enterprise
  • Guiding your company’s shift from protection to preparedness, so you are ready to respond and recover from an attack
  • Designing a competitive cyber insurance program that specifically addresses your company’s assets at risk
  • Negotiate on your behalf with leading global insurers in the USA, London and Bermuda


Lockton’s global team developed one of the first broker proprietary cyber insurance policy forms, underwritten by Lloyds of London and used today by many Fortune 1000 companies. Our team also worked with global insurers to overhaul the underwriting process.

In conjunction with Lockton’s strategic partners, we provide cybersecurity risk assessments, incident response preparedness, planning and cyber insurance program design and placement, among other services. Our team of global specialists also can provide guidance on related cyber risk issues, such as:

  • Technology Errors and Omissions
  • Media Liability
  • Intellectual Property Infringement
  • Data Privacy
  • Reputation Management

Navigating the Digital Age

Companies today face threats that involve not only data assets but also physical assets that can lead to property damage and business interruption. Lockton understands how cyber risk is evolving and can help you stay in front of the challenges.

Also visit, owned by ESET. The website is dedicated to in-depth cyber trends and topics, with articles contributed by ESET researchers around the world who study cyber threats daily.

Cyber Risk Resources

The Cyber Risk Update blog explores the ever-changing cyber risk and cyber insurance landscape.

Professional Indemnity

Protecting Your Professional Practice

Providers of professional services can find themselves in disputes with their clients and others claiming damages allegedly caused by their services’ failure to meet their expectations or the legal standard of care.

Even when these claims have little or no merit, professional firms must pay for a defence against such allegations, and may even find that a settlement is preferable to the uncertainty and expense of protracted litigation.

Wide Array of Clients

Lockton works with a wide array of clients in the professional liability arena, including (but not limited to):

  • Accountants
  • Architects
  • Construction & engineering firms
  • Design professionals
  • Healthcare workers
  • Insurance brokers
  • Independent financial advisors
  • Management consultants
  • Physicians
  • Solicitors
  • Surveyors

Unparalleled Knowledge

Lockton is one of the leading advisors on professional indemnity insurance. We have unparalleled knowledge of the coverage available under professional indemnity insurance policies, and strong relationships with a wide array of top professional indemnity providers. But our expertise does not stop with insurance. We make it our business to understand the specific risks and challenges inherent in your professional practice.

Armed with this knowledge, you can count on Lockton to provide specialised risk management advice, assistance, and insurance to you as our professional services client.

Adding Value

Lockton also offers our customers comprehensive online insurance quote, claim and policy management alongside a wealth of benchmarking and customer information. For an example please visit

Transactional Risks

Transactional Risk insurance products facilitate mergers and acquisitions and other transactions by protecting deal participants from risks that arise in connection with the underlying deal. Our range of product and services include:

Warranty and Indemnity (W&I) Insurance

W&I insurance indemnifies a party to a transaction (buyer, seller or interested party) for financial losses arising out of the purchase agreement.

This includes claims:
1. for a breach of warranty (General, Fundamental, Tax);
2. under the tax covenant; and
3. under an indemnity in respect of a known issue.

We can find ‘back-to-back’ cover for liabilities arising out of a purchase agreement, transferring the risks to the insurer. The insurer will either cover the seller (buyer-side policy) or agree to indemnify the warrantor/seller (seller-side policy).

We work for buyers and sellers in corporate transactions, and for the firms that advise them. It’s our job to make sure buyers and sellers get the insurance coverage they need, in order first to make their deal happen, and then to protect their interests in the future.

Tax Insurance

Tax Insurance enables an entity to transfer the contingent risk of a known tax liability to an insurer. It indemnifies the insured for financial losses that arise from a challenge by the relevant tax authority.

It is an effective tool that can be used to reduce or eliminate tax liabilities that would otherwise have to be accounted for on the corporate balance sheet.

Contingent Insurance

Tax is not the only contingent matter that may need insuring, others include legal, regulatory and pension contingencies, and may be issues that do not necessarily relate to the transaction.

The insurance is designed to respond to claims and losses arising from legal, regulatory or judicial enquires, and can be structured to provide for the reversal or appeal of a judgement, arbitration or tribunal decision.

The policies will match any open enquiry window, or statute of limitation provision up to a maximum of 7 years.

Insurance Due Diligence

Our dedicated Due Diligence team will conduct a comprehensive review of the target companies insurance, benefits, and risk management programmes. Then we recommend options and strategies that lead to cost savings and other long-term financial benefits.

The team will review different areas: financial analysis, transaction analysis, insurance/benefits and risk management review.

Our services and solutions provide clarity of tangible costings for balance sheet exposures to the target company, protecting investment decisions and accelerating value creation.



Key Contact - Asia-Pacific Lead

Rob Russell
Regional Director
+66 (0) 2 635 5000 (Ext. 2801)

Key Contact - Australia

Mark Luckin

+61 8 9217 0886

Key Contact - Greater China

Terry Tang
Senior Vice President, Greater China
+852 2250 2823

Key Contact - Singapore

Chinnatamby Nandakumar
Director, Singapore
+65 6326 9252

Key Contact - Malaysia

Hairolnizam Sapian
+60 3 2772 2148

Key Contact - Korea

Jongsook Paek
Deputy General Manager
++82 2 2011 0342

Key Contact - Thailand

Mingkwan Sirichaiyakul
+66 2 635 5000 (Ext 6902)


Key Contact - Philippines

Nino Sauler
+63 2811 0388

Discover more Insights & Publications  |  Read more in the Lockton Newsroom
Discover more Insights & Publications
Read more in the Lockton Newsroom