Acts covered might include the following:
- Any breach of fiduciary duty, error, omission (except Professional Liability ), misleading and wrongful statement;
- Any act in the capacity of Director or Officer;
- Any act in the capacity of Director or Officer of an Outside Entity ;
- Any Employment Practice Violation.
- Defence costs
- Costs under the court decision or amicable agreement
- Subject to the type of extensions applied – damage to reputation, regulatory crisis response costs, emergency costs, special excess limit for non-executive directors and other.
- Inclusion of directors and officers of subsidiary.
- No deductible in cases of non-indemnifiable loss.
- Advance deposits against legal fees.
- Agreed upon panel of legal consultants.
One of the key elements addressed by this insurance is the protection it affords the Company and its directors in the event of possible lawsuits brought against them in North America in those instances where the Company is exposed on the Canadian or US exchanges, as well as non-exchange related markets.