2015-12-11

Directors & Officers Liability

SHA’s Directors’ and Officers’ policy is aligned with the Companies Act 71 of 2008 to address the personal liability needs of directors. This policy affords directors the flexibility to choose between essential peace of mind cover or enhanced cover through the optional extensions depicted below.

Directors’ Liability Policy provides cover in respect of –
  • Claims first made against the Insured for compensation during the period of insurance for which the Insured shall become legally liable. This includes damages, awards and approved settlements
  • Claims first made against the Insured during the period of insurance for which the Insured is legally liable where the Company has indemnified the Insured. This includes damages, awards and approved settlements
  • Claimants’ costs and expenses incurred by the Insured during the period of insurance with the Insurers’ written consent in the defence of any claim which is the subject of indemnity
following a Wrongful Act;
  • Where permitted by law, the advancement of costs, charges, and expenses incurred by the Insured during the period of insurance with the Insurers’ written consent for defence of allegations of any–
    • Criminal act
    • Wilful misconduct
    • Wilful breach of trust
    • Reckless trading or
    • Breach of authority where the proceedings are abandoned or exculpate the Director
Extensions:
  • Estates, Heirs and Legal Representatives
  • Defamation
  • New Subsidiaries
  • Investigation and Inquiry Costs
Optional Extensions:
  • Additional Excess Limit
  • Aggregate Reinstatement
  • Bail Bond Costs
  • Bilateral Discovery Period
  • Company Securities
  • Crisis Communication Costs
  • Deprivation of Assets Expenses
  • Emergency Defence & Legal Costs
  • Environmental Impairment Defence Costs
  • Environmental Impairment Shareholder Derivative Claim
  • Extradition Proceedings
  • Major Shareholder
  • Worldwide Jurisdiction
  • Outside Directorships
  • Prosecution Costs
  • Public & Investor Relations Expenses
  • Public Finance Management Act
  • Retired Directors
Territorial Limits:
  • Worldwide

Download a fact sheet

Download an SME proposal form

Download a full D & O proposal form

If you’re a broker and you’d like to get your clients onto SHA Directors and Officers Liability send an email to DO_dept@sha.co.za or call us 011 731 3600

Alternatively, search for a team member using the “Find a team member” directory.