Insurance protection for the directors and officers in respect of claims made against them for actual or alleged wrongful acts arising from negligence, omission or misleading statements. D&O cover protects the Directors and Officers of a company against claims which may arise from the decisions and actions they take, whilst carrying out their daily activities, within the scope of their official duties. Without this cover the personal assets of a Director or Officer are at risk.

  • Management Liability
  • Company Securities
  • Investigation costs
  • Non-Executive Directors
  • Extradition
  • Outside Directorship
  • Bodily Injury and Property damage
  • Assets and Liberty
    • Bail Bond and Civil Bond premiums
    • Prosecution costs and
    • Asset and Liberty expenses
  • Public Relations Expenses

Legal fees, defence costs and expenses incurred to defend any Assets and Liberty Proceeding. Any proceeding brought against the insured person by an official body seeking to:

  • Disqualify the insured person from holding office as a Director or Officer
  • Confiscation or taking ownership or freezing ownership of a Director's property
  • Charge over real estate property or personal assets
  • Prevent or remove the person, temporarily or permanently, from holding office as a Director and carrying out his functions
  • Restrict movement (Liberty) to a domestic residence or detention centre
  • Past, present and future Directors, (including independent directors) Officers of a company
  • Employees in a managerial or supervisory capacity
  • Spouses, administrators and executors of the insured’s estate
  • Outside directorships directed by the company

 

  • Special Excess protection for non-executive directors – Max R1m per Director
  • Automatic coverage for new subsidiaries
  • Emergency costs - R250 000
  • Prosecution costs, Bail bond expenses
  • Public relations expenses
  • Kidnap response costs - R500 000
  • Pollutions Defence costs - 10% of the limit of liability
  • Bodily Injury and Property Damage Defence Costs – 10% of the limit of liability
  • Security Entity cover
  • Life time run-off cover for Retired Directors
  • Blanket Outside Directorship cover
  • New Subsidiaries cover - 25%
  • Investigation costs
  • Assets and Liberty costs
  • Extradition costs
  • Insured v/s Insured claims except when consensual or US claims
  • Retroactive cover – based on confirmation of previous cover
  • Dishonest and fraudulent acts
  • Illegal remuneration or personal profit
  • Existing or known claims or circumstances
  • Property damage and bodily injury (defence costs are available)
  • Insolvency costs if the insured had not been in operation for longer than 3 years
  • Economic sanctions endorsement
  • North America exclusion
  • Professional Indemnity exclusion
  • Must have total gross assets must be less than R250 million
  • Be domiciled in South Africa
  • NOT listed on any stock exchange
  • Must be in operation for at least 3 years (failing which an Insolvency exclusion will be applied)
  • Is NOT a Financial Institution, Pharmaceutical or Bio-Technology company
  • Is not aware of any circumstances or incidents that may result in a claim
  • Must not have had any past claims made against the Company or past/present directors or officers.
  • Must be technically solvent – current assets exceeding liabilities