QBE

QBE Hongkong & Shanghai Insurance Limited

Formed within QBE’s Asia Pacific division, QBE Hongkong & Shanghai Insurance Limited (‘QBE-HKSI’) is a joint venture between:

  • QBE Insurance Group and
  • China Construction Bank (Asia) Corporation Limited.

The QBE Insurance Group first set up local representation in Hong Kong in 1920, making it one of the territory’s longest-established insurance companies.

With specialist knowledge and extensive experience, QBE-HKSI develops and delivers insurance solutions to deal with complex risk exposures in areas including:

  • accident and health,
  • liability,
  • commercial property,
  • marine cargo, and marine hull.
  • homeowners, office and retail packages.

QBE-HKSI is one of three QBE entities operating in Hong Kong. The other two are:

  • QBE General Insurance (Hong Kong) Ltd ~ Distributing via Hang Seng Bank as an agent.
  • QBE Mortgage Insurance (Asia) Ltd ~ Distributing via Major banks in Hong Kong

Update on 2019 results - 17/2/2020

Today the QBE Group reported improvements in the quality and resilience of QBE’s earnings including a cash profit of $733 million (compared to $692 million in 2018), a Combined Operating Ratio (COR) of 97.5%, a further 2.7% improvement in the Group’s attritional claims ratio (ex Crop and LMI), positive rate growth of 6.3% and strong divisional performances in Australia Pacific and International.

International Division (which Asia is part of) similarly delivered an improved COR of 95.4% with a further 3% improvement in the attritional claims ratio. Market momentum continues with rate increases of 6.3% in European Operations and 3.5% in Asia. Groos Written Premium grew by 4% on a constant currency basis, reflecting the improved pricing environment and emerging new business opportunities.

Asia Operations

The Asian markets remain challenged and the region has been particularly impacted by macro-economic influences, including geopolitical uncertainty, and more recently the impacts of the Coronavirus.

Some key drivers of their operations last year:

  • Higher frequency and severity of large losses;
  • Improvements in expense management;
  • Some signs of positive rate movement;
  • Strong progress towards delivering their digital ecosystem with full policy lifecycle for most of our commodity lines and digital claims lodgement capability for some high-volume products;
  • Investment in their technical capability, particularly on the underwriting;
  • Their new geographical footprint in Asia which will allow them to focus on delivering an even better service proposition to their partners and customers in these markets.

Individual Health

QBE offers two individual products:

  • Health Protector - Basic Inpatient and optional Supplementary major Medical benefits &
  • Health Protector Plus - provides a simple lump sum benefit, which can be used to top-up your existing medical cover

Health Protector

QBE's Health Protector cover options are:

Basic cover
  • Hospitalisation expenses
  • Home nursing following an operation and recommended by the attending doctor
  • Surgical expenses
  • Intensive care unit charges
  • In-patient specialist fees charged by a recognised specialist whose service is recommended by the attending doctor
  • Post-surgery outpatient follow-up care expenses
  • Compassionate cash relief for your immediate family member in the event of your death during the period of hospital confinement
  • Emergency outpatient charges
Optional cover

Supplementary major medical benefit option to cover 80% of the actual expenses incurred in the excess of the basic cover (applicable to hospitalisation expenses, surgical expenses and intensive care unit charges).

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Health Protector Plus

The HealthProtector Plus plan provides a simple lump sum benefit, which can be used to top-up your existing medical cover.

Basic cover

Annual hospitalisation benefits to cover expenses related to:

  • Room and board
  • Hospital special services
  • In-hospital doctor’s visit, specialist’s consultation, physiotherapy, and special nursing
  • Advanced diagnostic imaging
  • Fees for surgeon, anaesthetist and operating theatre
  • Intensive care unit charges
  • Prescription drugs expenses
  • Parent accommodation expenses
Optional cover
  • Organ transplantation expenses
  • Cancer treatment or kidney dialysis expenses
  • Home nursing
  • Post-hospitalisation treatment

24-hour worldwide emergency assistance services while you are traveling overseas:

  • Emergency medical repatriation and evacuation
  • Medical advice from a doctor over the phone
  • Hospital admission guarantee arrangement
  • Return of mortal remains in case of death
  • Hotline to provide legal and interpreter referral services
  • Compassionate visit arrangement for a friend or relative, or children’s escort in case you are hospitalised for 7 consecutive days

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Outpatient Only cover

QBE is one of the very few insurers to provide 'Outpatient Only' cover

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Group Health

QBE offers Group Health, Group Personal Accident & Travel Insurance schemes designed for corporate clients of all sizes.

  • Group Health – Hospitalisation and Surgical, Supplementary Major Medical, Outpatient, Dental and Maternity
  • Group Personal Accident & Travel – Accidental Death, Permanent/Temporary Disablement, Travel Medical Expenses, Income Protection and Hospital Cash Allowances

Your employees can also enjoy comprehensive 24-hour worldwide emergency assistance services including:

  • Emergency medical evacuation and/or repatriation
  • Compassionate visit arrangement for a friend or relative in case you are hospitalised
  • Children’s escort in case you are hospitalised
  • Hospital admission guarantee arrangement
  • Repatriation of mortal remains in case of death
  • Legal or interpreter referral and other hotline services

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Individual Travel

QBE provides both an annnual and single trip insurance, namely:

  • Travelon Annual Travel Insurance – with no restriction on the number of trips in a year
  • Travelon Single Trip Travel Insurance – this insurance provides three different levels of coverage and is designed for traveler to meet their specific needs including:
    • round trip and
    • one way travel

Basic benefits include:

  • Medical expenses
  • Compensation for loss of or damage to baggage, personal effects, money, or travel documents, as well as the unauthorised use of credit card
  • Travel inconvenience including trip cancellation and curtailment expenses, baggage and travel delay, trip re-route, missed connection
  • 24-hour worldwide emergency assistance services include:
    • Compassionate visit
    • Emergency medical evacuation and/or repatriation
    • Hospital admission guarantee
    • Hotline and referral services
    • Repatriation of mortal remains
    • Return of unattended children
    • Convalescence assistance
  • Personal accident, funeral expenses and compassionate cash relief for death
  • Personal liability
  • Hospital and quarantine, as well as intensive care unit cash allowance
  • Loss of ticket costs if missed event
  • Rental vehicle excess

Extra benefits include:

  • Cash allowance for delay or interruption caused by aircraft hijacking
  • Credit card protection to cover unsettled balance on purchases made during the trip in case of accidental death
  • Emergency cash for stay behind expenses due to loss of travel documents
  • Home contents protection due to burglary to home during the trip
  • Hotel accommodation if unable to return from the airport to home after the trip

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QBE offers cover for both private motor car and motorcyces and as well commercial vehicles.

For example, QBE has been the insurer of one of Hong Kong’s main bus companies, Citybus, for more than 10 years, insuring their fleet of around 1,000 buses.

Up to one quarter of the registered motorcycles in Hong Kong are also insured with QBE-HKSI and we are a leading private car insurer in the territory.

In common with the rest of the market, QBE's motor policies provide the compulsory Third Party insurance and optionally the additional Comprehensive cover.

QBE's 24-hour Motor Assistance Service Centre hotline: +852 2851 2336

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In an environment of increasing personal responsibility and accountability, Professional Liability Insurance and essential from of business protection in our view. Professional Liability cover provides your company and your executives with cover against: legal liability, the threat of litigation and potential damage that could follow from being sued.

QBE Professional Liability insurance helps minimise the risk for businesses and professionals across a broad range of industries.

Association Liability Insurance

This cover protects not-for-profit or charitable associations against legal liability in relation to the wide variety of risks associated with carrying out activities and providing services.

Scope of Cover
  • Out-of-court settlements
  • Compensatory damages awarded by the court against directors, officers, secretaries, committee members (whether salaried or not) of an association
  • Defence costs and expenses
  • Costs of appointing legal expertise
  • Civil proceedings
  • Successful defence of criminal proceedings
  • Unlawful default
  • Breach of trust
  • Breach of fiduciary duty or breach of warranty or authority
  • Advance payment of defence costs and expenses
  • Employee actions
  • Severability and non-imputation
Automatic extensions
  • Amalgamation/merger estate and legal representatives/spousal liability
  • Intellectual property
  • Intentional acts
  • Loss of documents
  • Official investigation and inquiries
  • Preservation of indemnity public relations expenses
  • Retired officers
  • Trade practice and related legislation
Optional extensions
  • Automatic reinstatement
  • Extended reporting period outside directorships

Directors' & Officers' Management Liability insurance

This cover protects senior executives against the risk of liability arising from their duties, including:

  • Out-of-court settlements
  • Compensatory damages awarded by the court against directors and officers
  • Defence costs and expenses
  • Advance payment of defence costs and expenses
  • Legal proceedings brought against any past, present and future directors and/or officers for wrongful acts committed by them in the course of their duties (coverage is also provided for employees in a managerial or supervisory capacity)
  • Costs for legally compellable attendance, investigation or enquiry into the affairs of the company
  • Employee actions brought by fellow officers, directors and employees alleging employment practice errors such as unfair dismissal, unlawful discrimination or sexual harassment
  • Cover for legal proceedings brought against directors and/or officers while sitting on external positions
  • Cover can be provided for the company for security claims, employment-related matters and the cost of engaging a public relations consultant in prescribed events

Medical Malpractice Insurance

This cover protects healthcare professionals and the medical establishments in which they operate. It includes:

  • Out-of-court settlements
  • Compensatory damages awarded by the court against the healthcare professionals or medical establishment
  • Defence costs and expenses
Extensions
  • Coronial enquiries
  • Emergency first aid
  • Estate and legal representative
  • Defamation
  • Loss of documents
  • Newly created or acquired entity or subsidiary
  • Run-off cover insured entity or subsidiary
  • Students

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Professional Indemnity Insurance

This cover protects professionals against a wide range of potential actions arising from breaches of professional duty.

Scope of Cover
  • Out-of-court settlements
  • Compensatory damages awarded by the court against the professionals
  • Defence costs and expenses
  • Breach of confidentiality
  • Contractual liability (Tort liability)
  • Defamation
  • Infringement of intellectual property rights
  • Joint-venture liability
  • Loss of documents
  • Trade practices and related legislation
  • Vicarious liability
Automatic Extensions
  • Compensation for court attendance
  • Continuous cover
  • Contractors and consultants extended reporting period intentional acts
  • Newly created subsidiaries
  • Official investigation and enquiry costs and expenses
  • Public relations expenses
  • Replacement documents costs
  • Takeovers
Additional features
  • Automatic reinstatement
  • Previous business

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Technology Liability - Information & Communication

This cover protects against legal liability arising from the failure of products, services and/or advice.

Scope of Cover
  • Errors and omissions
  • Personal injury and property damage
  • Compensatory damages awarded by the court against the professionals
  • Defence costs and expenses
Automatic Extensions
  • Consultants, sub-contractors and agents
  • Defence costs for breach of contract
  • Fraud and dishonesty
  • Intellectual property
  • Joint venture liability
  • Defamation
  • Loss of data
  • Outgoing principals
  • Unauthorised access
Optional extensions
  • Increased aggregate limit of indemnity
  • Licensee intellectual property rights

Trustees Liability Insurance

This cover protects trustees while they execute their duties and/or the functions of the trust.

Scope of cover
  • Out-of-court settlements
  • Compensatory damages awarded by the court against the trust, the employer and any trustee
  • Defence costs and expenses
  • Costs of appointing legal expertise
  • Civil proceedings
  • Successful defence of criminal proceedings
  • Breach of duty
  • Breach of trust
  • Neglect, errors and omissions
  • Misstatement
  • Misleading statement
Automatic Extensions
  • Continuous cover
  • Advance payment of defence costs
  • Official investigations and enquiries
  • Insured versus Insured
  • Fraud and dishonesty
  • Loss of documents
  • Defamation
  • Severability and non-imputation
  • Estates and legal representatives
Optional Extensions
  • Increased aggregate limit of indemnity
  • Fidelity

As a specialist marine insurer, QBE provides insurance protection for :

  • commercial hull,
  • shipowners’ P&I,
  • marine liability,
  • pleasure craft, and
  • conventional and specialised cargo risks.

QBE's knowledge of the marine and general transportation sectors and the variety of risks involved is unrivalled.

QBE offers highly tailored and very competitively priced cargo, hull and liability insurance solutions, such as:

  • Ship Builders' Risk Insurance covers physical loss and/or damage to vessel while it is under construction or conversion.
  • Cargo Insurance covers physical loss or damage to cargo/goods in transit by sea, land and air.
  • Charterers' Liability Insurance covers liabilities of Time/Voyage Charterers to third parties (for example, cargo or oil pollution liabilities) or ship owners (such as damage to vessels) arising out of operation of their chartered vessels.
  • Commercial Hull Insurance covers physical loss and/or damage to the hull and machinery of merchant vessels operating within Far East waters.
  • Marine Professional Negligence Insurance protects marine professionals against claims arising from legal liability and errors and omissions in the performance of professional services.
  • Ports & Terminals Insurance protects Port Authorities, terminal operators, container freight stations, and stevedores against liability for damage to vessels, cargoes or property belonging to customers as well as third-party property damage and liability for death or bodily injury to third parties arising out of the insured’s operations.
  • Ships Owners' Protection & Indemnity Insurance protects shipowners and managers against their risks of liabilities related to crew, cargo, seepage, pollution, wreck removal, third-party property damage, and injury to third parties arising out of operation of their vessels.
  • Ship Repairers' Liability Insurance covers the ship repairers for their legal liabilities to vessels under their care, for third-party property damage, and for death or injury.
  • Transport Operators' Liability Insurance covers the legal liabilities of various occupations, including freight forwarders, multimodal transport operators, NVOC, road hauliers, warehousing operators, against damage to third party property that is under their care, custody and control.

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In both the international and domestic business arena, when a company agrees to sell its goods or services on credit terms, there is an inherent risk of non-payment.

In addition, a substantial percentage of your working capital can be tied up as accounts receivable. A buyer may not pay for the goods or services you rendered, due to various reasons, including:

  • insolvency,
  • overdue accounts and
  • political risks.

The resulting effect on your balance sheet will be detrimental and could impact the continued growth of your business.

QBE's Trade Credit insurance helps protect companies from commercial bad debts that arise during the sale of goods and services on credit terms to other businesses.

QBE's solutions are attractive to companies of all sizes – from those with minimal credit sales up to the largest corporations for both domestic regional or global needs.

As one of the largest providers of Trade Credit Insurance in Asia, QBE applies a flexible and innovative approach when tailoring credit risk management solutions to help meet the requirements of its clients.

QBE's Trade Credit policies offer a comprehensive coverage and benefits including:

  • Supporting sales growth with added protection against unexpected default
  • Early warning systems for bad payers or poor risks, assisting in avoiding bad debts
  • Indemnity up to 90% of each unpaid debt
  • Minimising the cash flow impact of large, unexpected bad debts
  • Optional extension of cover for Contract Repudiation and Political Risk events for exporting companies

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Email: crew@navigator-insurance.com
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Navigator Insurance Brokers Ltd
Unit E, 8/F Golden Sun Centre
No. 59-67 Bonham Strand West
Sheung Wan, Hong Kong