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This policy covers directors and officers (and the Company itself where it is legally permitted to indemnify its Directors and Officers) for any wrongful acts committed in their capacity as directors and officers of the Company.
The Policy is written in two sections as follows:
The Directors and Officers Liability Section indemnifies the Directors and Officers in respect of any “Wrongful Act” committed in their capacity as Directors and Officers of the Company, where the company is not permitted (either legally or by its Articles of Association) to reimburse them.
The company reimbursement section covers the Company only in respect of any reimbursement that it is required, or permitted by law to make to its directors and officers against whom legal action has been sought.
A specific proposal form has to be completed before obtaining a quote from the Insurers.