SBACC Professional Liability Insurance Coverage for PMCs
More than 600 Practising Management Consultants (PMCs) in Singapore will enjoy free Professional Liability Insurance Coverage up to $5 million under a special scheme taken up by Singapore Business Advisors and Consultants Council (SBACC) with AIG Asia Pacific Insurance Pte Ltd. This scheme is the first of its kind in Asia Pacificinitiated by SBACC to uphold the professional standard of conduct and services of PMCs in Singapore. Only PMCs who have passed the stringent criteria in terms of professional conduct and services and possess a valid Practising Certificate issued by SBACC are entitled to such free Professional Liability Insurance Coverage,up to $250,000 for any single claim.
Local and foreign businessmen, especially the SMEs, are encouraged to engage these certified PMCs to provide consultancy services for their business upgrading or development plans. The particulars of these PMCs are listed on SBACC’s Website (www.sbacc.org.sg). The summarised coverage of the scheme is as attached.