Director & Officer Solutions
Directors and Officers, as defined in the New Companies Act, are personally exposed to claims emanating from breaches, alleged or actual, within the frameworks of both the common law as well as under the said Act.
Contemplated claims may accordingly arise from:
- Breach of fiduciary duties
- Damages measured against the failure to act with reasonable care and skill
- Violations of duties as prescribed in terms of the prevailing legislation
Directors & Officers Insurance Protection
Under this policy, past, present and future directors, officers, prescribed officers, and employees acting in a managerial or supervisory capacity will be covered.
The protection sought is for indemnity against such errors and omissions that pre workout include awards as well as legal defence costs.
Among possible claimants are:
- Shareholders
- Employees
- Trade unions
- Creditors
- Competitors
- The company for which the director was appointed.