Armenia

Motor Third Party Liability

AMD 1.8mn per accident, AMD 3.3mn per person, AMD 10mn aggregate

Belarus

Workers’ Comp Policy Limits

State Scheme (compensation is linked to individual’s wage which is very low)

Employers’ Policy Limits

NA

General Liability Policy Limits

USD 1,000,000

Umbrella Liability Policy Limits

NA

Crime/Employee Dishonesty Policy Limits

NA

Professional E&O Policy Limits

BYN 69,000 (UDS 34,196)

Denmark

Workers’ Comp Policy Limits

According to Danish law

Employers’ Policy Limits

Can be Included in GL

General Liability Policy Limits

DKK 10mn (USD 1.38mn)

Umbrella Liability Policy Limits

NA

Crime/Employee Dishonesty Policy Limits

Individual and various

Professional E&O Policy Limits

Included in GL

Estonia

Workers’ Comp Policy Limits

According to Estonia’s Social Security System

Employers’ Policy Limits

Can be extended under GL coverage or purchased Separately EUR 150,000

General Liability Policy Limits

EUR 1mn

Umbrella Liability Policy Limits

No information as no demand in the local market

Crime/Employee Dishonesty Policy Limits

No information as no demand in the local market

Professional E&O Policy Limits

No information as no demand in the local market (recommend to use GL limit where applicable)

Finland

Workers’ Comp Policy Limits

State scheme

Employers’ Policy Limits

State scheme

General Liability Policy Limits

EUR 2,000,000 Per event, EUR 4mn Agg

Umbrella Liability Policy Limits

Not available in the insurance market.

Crime/Employee Dishonesty Policy Limits

USD 100,000

Professional E&O Policy Limits

EUR 50,000

France

Workers’ Comp Policy Limits

State scheme

Employers’ Policy Limits

An extension to the GL

General Liability Policy Limits

EUR 5 million

Umbrella Liability Policy Limits

Layered capacity is available

Crime/Employee Dishonesty Policy Limits

NA

Professional E&O Policy Limits

EUR 1.5 million per claim, EUR 2 million aggregate

Germany

Workers’ Comp Policy Limits

Social Security System

Employers’ Policy Limits

NA (State Scheme)

General Liability Policy Limits

EUR 5 million

Umbrella Liability Policy Limits

N/A

Crime/Employee Dishonesty Policy Limits

NA

Professional E&O Policy Limits

EUR 1.25mn per event, EUR 1.88mn aggregate

Iceland

Workers’ Comp Policy Limits

Social Security System

Employers’ Policy Limits

Part of General Liability coverage

General Liability Policy Limits

ISK 250mn (USD 2.45mn)

Umbrella Liability Policy Limits

Excess carriers and limits are available

Crime/Employee Dishonesty Policy Limits

Only available for financial institutions

Professional E&O Policy Limits

EUR 1.25mn per event, EUR 1.88mn aggregate

Ireland

Workers’ Comp Policy Limits

The state scheme pays EUR 193 (USD 210) per week for 26 weeks, with a seven day waiting period.

Employers’ Policy Limits

EUR 13 mn (USD 14.13mn)

General Liability Policy Limits

EUR 6.5mn (USD 7mn)

Umbrella Liability Policy Limits

Higher limits are available

Crime/Employee Dishonesty Policy Limits

EUR 50,000 on a first loss basis

Professional E&O Policy Limits

EUR 1,250,618 (USD 1.36mn) per claim

Latvia

Workers’ Comp Policy Limits

Covered by State welfare system

Employers’ Policy Limits

Endorsed to GL policy for a sublimit-EUR 140,000

General Liability Policy Limits

EUR 10,000 to EUR 1mn

Umbrella Liability Policy Limits

No information, as this cover is not seen often

Crime/Employee Dishonesty Policy Limits

N/A

Professional E&O Policy Limits

Professional indemnity insurance limits are usually low. Compulsory coverage for a range of professions.

Lithuania

Workers’ Comp Policy Limits

State social insurance-SoDra

Employers’ Policy Limits

EUR 50,000 to EUR 300,000

General Liability Policy Limits

EUR 300,000 to EUR 1mn

Umbrella Liability Policy Limits

Not a feature of the Lithuanian market

Crime/Employee Dishonesty Policy Limits

Not a feature of the Lithuanian market

Professional E&O Policy Limits

EUR 28,986

Netherlands

Workers’ Comp Policy Limits

Employers and Employees make contributions to Dutch social security system thereby insured under Sickness Benefits Act and social security laws

Employers’ Policy Limits

Sold with General liability cover-EUR 2.5mn to EUR 10mn

General Liability Policy Limits

EUR 10mn

Umbrella Liability Policy Limits

NA

Crime/Employee Dishonesty Policy Limits

Not a feature of the market

Professional E&O Policy Limits

NA

Norway

Workers’ Comp Policy Limits

By law this coverage is compulsory. There is no indemnity limit. Compensation is calculated using a formula based on earnings, the degree of disability and dependence. The claim is then multiplied by the base amount or “G”. G is NOK 92,576 (USD 10,508).

Employers’ Policy Limits

The Employer’s liability Act define fixed compensation for bodily damage and death occurred during work activities

General Liability Policy Limits

NOK 10mn (USD 1.14mn)

Umbrella Liability Policy Limits

NA

Crime/Employee Dishonesty Policy Limits

NOK 10mn (USD 1.14mn)

Professional E&O Policy Limits

NOK 5mn (USD 567,537)

United Kingdom

Workers’ Comp Policy Limits

Social Security System

Employers’ Policy Limits

GBP 10,000,000

General Liability Policy Limits

GBP 10,000,000

Umbrella Liability Policy Limits

NA

Crime/Employee Dishonesty Policy Limits

GBP 5,000,000

Professional E&O Policy Limits

GBP 1,000,000

Australia

Workers’ Comp Policy Limits

Varies by State. Compulsory coverage; therefore must include in insurance language. 

Employers’ Policy Limits

N/A

General Liability Policy Limits

AUD 20mn (USD 14.93mn)

Umbrella Liability Policy Limits

Excess carriers can be added to GL policy

Crime/Employee Dishonesty Policy Limits

N/A

Professional E&O Policy Limits

AUD 5mn to AUD 10mn

Canada

Crime/Employee Dishonesty Policy Limits

provincial schemes

Employers’ Policy Limits

CAD 1mn (USD 775,194) to CAD 5mn (USD 3.88mn)

General Liability Policy Limits

CAD 1mn to CAD 5mn

Umbrella Liability Policy Limits

CAD 5mn to CAD 25mn

Crime/Employee Dishonesty Policy Limits

CAD 250,000 to CAD 1mn

Professional E&O Policy Limits

CAD 1mn (USD 775,194) to CAD 5mn (USD 3.88mn)

China

Workers’ Comp Policy Limits

Social pools funded on a “pas as you go” basis by Employer’s risk related wage roll contributions.

Employers’ Policy Limits

Limit of indemnity varies

General Liability Policy Limits

CNY 500,000 to CNY 1mn any one claim

Umbrella Liability Policy Limits

NA

Crime/Employee Dishonesty Policy Limits

NA

Professional E&O Policy Limits

CNY 3mn (USD 427,350)

Hong Kong

Workers’ Comp Policy Limits

Minimum limits required by law are HKD 100mn per event for companies employing no more than 200 ppl. 200 people and over min limit is HKD 200mn. Higher limits can be purchased on a voluntary basis

Employers’ Policy Limits

N/A

General Liability Policy Limits

HKD 10mn and KKD 30mn (USD 1.28mn and USD 3.85mn)

Umbrella Liability Policy Limits

Higher limits are available in the market

Crime/Employee Dishonesty Policy Limits

Small limits, depends on the revenue

Professional E&O Policy Limits

HKD 5mn to HKD 10mn (USD 641,026 to USD 1.28mn)

India

Workers’ Comp Policy Limits

Based on the salary being paid and the WC Act

Employers’ Policy Limits

Must be an extension under the GL policy or WC policy

General Liability Policy Limits

INR 500,000

Umbrella Liability Policy Limits

NA

Crime/Employee Dishonesty Policy Limits

N/A

Professional E&O Policy Limits

INR 1,000,000 (UDS 15,369)

Philippines

Workers’ Comp Policy Limits

Employees’ Compensation program.

Employers’ Policy Limits

PHP 1mn ro PHP 5mn (USD 21,231 and USD 106,157)

General Liability Policy Limits

PHP 100,000 (USD 2, 123) to USD 1mn for multinational company

Umbrella Liability Policy Limits

Not Available

Crime/Employee Dishonesty Policy Limits

N/A

Professional E&O Policy Limits

PHP 500,000 (USD 10,616) if applicable

Singapore

Workers’ Comp Policy Limits

As stipulated by Work Injury Compensation Act. Please refer to the link: http://www.mom.gov.sg/workplace-safety-and-health/work-injury-compensation

Employers’ Policy Limits

SGD 10,000,000 (USD 7,057,014)

General Liability Policy Limits

SGD 1mn (USD 722,909 for office risk, up to SGD 5mn for factory premises

Umbrella Liability Policy Limits

NA

Crime/Employee Dishonesty Policy Limits

NA

Professional E&O Policy Limits

SGD 2mn (USD 1.45mn)

Thailand

Workers’ Comp Policy Limits

Obliged by law to contribute to the state fund. Contribution rates are calculated by a rate which varies between .2% and 1% of payroll

Employers’ Policy Limits

THB 1.5mn (USD 42,373)

General Liability Policy Limits

THB 1mn (USD 28, 249)- THB 25mn (USD 706,125)

Umbrella Liability Policy Limits

N/A

Crime/Employee Dishonesty Policy Limits

N/A

Professional E&O Policy Limits

N/A

UAE

Workers’ Comp Policy Limits

Benefits are set by UAE Federal Labour Law

Employers’ Policy Limits

Limit of indemnity varies

General Liability Policy Limits

AED 1mn (USD 272,480) to AED 10mn (USD 2.72mn)

Umbrella Liability Policy Limits

N/A

Crime/Employee Dishonesty Policy Limits

N/A

Professional E&O Policy Limits

AED 200,000 (USD 54,496) if applicable

Spain

Workers’ Comp Policy Limits

Sum insured in this type of cover can be determinate by employee wage or a fix amount

Employers’ Policy Limits

EUR 150,000 to EUR 600,000 per person and up to EUR 3mn aggregate

General Liability Policy Limits

EUR 1mn (USD 1.1.mn)

Umbrella Liability Policy Limits

EUR 5mn to EUR 25mn capacity

Crime/Employee Dishonesty Policy Limits

See Comments on Cyber Risks

Professional E&O Policy Limits

EUR 300,000 to EUR 2mn

United States

Auto

Comprehensive automobile liability, including all owned, non-owned, and hired autos with (A) a per occurrence combined single limit of no less than USD$1,000,000 and (B) an aggregate limit of no less than USD$2,000,000.

Commercial General Liability

Comprehensive commercial liability, including premises and operations, independent contractors, personal injury, contractual liability, and products liability, completed operations and premise liability coverage with (A) a per occurrence combined single limit of no less than USD$1,000,000 and (B) an aggregate limit of no less than USD$2,000,000. Vendor shall ensure that Nasdaq, Inc. and its subsidiaries, including its and their Representatives (as defined below), are named as additional insureds on such Commercial General Liability policy.

Worker's Compensation

As required by the laws of the state in which Vendor personnel perform work in connection with the Agreement, Employers’ Liability Insurance coverage with (A) a per accident limit of no less than USD$1,000,000, (B) a per disease limit of no less than USD$1,000,000, and (C) an aggregate limit of no less than USD$1,000,000.

Professional Liability

Professional liability coverage with liability limits of no less than USD$5,000,000 for each occurrence and in the aggregate. Vendor shall ensure that Nasdaq, Inc. and its subsidiaries are named as co-defendants on such policy.

Network Privacy and Security Insurance Cyber Liability Insurance

Privacy and Security liability insurance (or its equivalent “cyber/network security” insurance) covering liabilities resulting or arising from acts, errors, or omissions in connection with the services provided or permitted under the Agreement that are associated with any unlawful or unauthorized access to, or acquisition, use, or disclosure of, personally-identifiable information and other personal data (“PII”), personal health information (“PHI”), or payment card information, including cardholder data or sensitive authentication data (“PCI”), including any use or disclosure not permitted by the Agreement, and any breach, loss, or compromise of any PII, PHI, or PCI. Such insurance shall provide coverage with minimum limits of no less than USD$5,000,000 per claim and costs and damages to be covered by such insurance policy shall include costs (A) to notify individuals, including establishing a call center or similar process, (B) to provide credit monitoring and identity restoration services to individuals, (C) and damages associated with third-party claims, including restoration expenses, revenue loss, litigation costs, and settlement costs, and (D) related to any investigation or enforcement activities, including any forensic investigation costs.

Directors & Officers Liability

Directors and Officers Liability coverage to indemnify directors and officers for claims made against them while serving on a board of directors or similar organizational body with a limit of no less than USD$10,000,000 per occurrence. Vendor shall ensure that Nasdaq, Inc. and its subsidiaries are named as co-defendants on such policy.

Umbrella

Umbrella liability coverage providing additional limits for commercial general liability, automobile liability, and employer’s liability policies with a liability limit of no less than USD$10,000,000 per occurrence.

Extended

If any insurance required by this section is written on a claims-made policy form, Vendor shall ensure that such policy has a retroactive date prior to or coinciding with the effective date of the Agreement and shall continue for the Insurance Period. In the event that any such claims-made policy is canceled, terminated, or non-renewed, Vendor shall obtain an extended reporting period endorsement for the remainder of the Insurance Period.

Sweden

Workers’ Comp Policy Limits

Swedish Social Insurance

Employers’ Policy Limits

N/A (State Scheme)

General Liability Policy Limits

SEK 10 million

Umbrella Liability Policy Limits

N/A

Crime/Employee Dishonesty Policy Limits

N/A

Professional E&O Policy Limits

Professional indemnity insurance limits are usually low. Compulsory coverage for a range of professions re: lawyers, accountants, insurance intermediaries, real estate agents, and the medical profession.