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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.
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.
Any bodily injury ,sickness, disease or death of any person or any damage to
Dishonest, fraudulent, criminal or malicious act.
Libel and slander
Personal injury and damage to property.
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
Premium depends on profile of the client, the Sum Insured selected, present and
past functioning of the company, information in the balance sheet and annual
report, degree of exposure etc.
Directors and the Company shall give to underwriters 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
Note: Policy details given are indicative, not exhaustive. Please contact your nearest NIA office for further details.