This cover is suitable for those Directors & key officers who are in a decision -making position. These directors and officers in pursuance of their duties may take some actions which may be in violation of certain statutes or Indian Laws.
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Types of policies available under this category
- Information not available
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What are the perils (Cause of Loss) covered
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Provides cover:
- Against any loss that the Organization may incur, on account of mistaken actions taken in their individual capacity as Directors & Officers in pursuance of their duties under Memorandum and Articles of Association.
- Against loss arising from claims made against them by reason of any wrongful Act in their Official capacity.
- Legal costs & expenses incurred with the written consent of the insurers arising out of prosecution (criminal or otherwise) of any Director / officer and attendance at any investigation, examination, inquiry or other proceedings by the authority empowered to do so.
- Expenses incurred by any shareholder of the Company in pursuance of a claim against any Director / Officer, which the Company is legally obliged to pay, pursuant to an order of a Court.
- Provide indemnity to the estate of, legal heirs or legal representatives of the Director / officer in the event of the Director / officer becoming insolvent.
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Provides cover:
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What perils can be covered by paying extra premium
- Information not available
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What are the main Exclusions?
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The main exclusions under Section I for which no claim is payable, are loss or damage due to:
- Any bodily injury, sickness, disease or death of any person or any damage to tangible property.
- Dishonest, fraudulent, criminal or malicious act.
- Personal guarantee.
- Libel and slander
- Personal injury and damage to property.
- Pollution damage
- Directly resulting from goods or products manufacture or sold by the company
- Fines, penalties, punitive or exemplary damages.
- Any circumstances existing prior to inception date of policy
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The main exclusions under Section I for which no claim is payable, are loss or damage due to:
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Types of discounts on premium available under this category
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Basis of Sum Insured- Recommendations
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Excess and other deductibles during claim
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Claims procedure
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Other relevant information
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Special Conditions
- Directors and the Company shall give to underwriter's immediate notice in writing of any claim
- Directors and the Company shall not disclose to anyone the existence of the policy without underwrites' consent
- Directors of the Company shall not be required to contest any legal proceedings Counsel shall advise that such proceedings should be contested.
- Underwriters shall not settle any claim without the consents of the Directors or the Company
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Special Conditions
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Premium calculator
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SUBMITTABLE PROPOSAL FORM (APPLY NOW)
- Form Downloads
- 1) Prospectus
- 2) Premium Rating chart
- 3) Proposal Form
- 4) Claim Form
- 5) Policy wordings
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