Residential Directors' & Officers' insurance is designed to protect property professionals and their management executive from costs that arise from legal actions they may face during their operations.
North American exposures
Actions between directors of the company
Costs arising from extradition proceedings
Losses incurred within 30 days of buy-outs by management of a subsidiary company
Tax contributions where the company has become insolvent and there is personal liability of an insured
Damages, judgments, settlements bail bond costs, crisis costs, deprivation of asset costs, prosecution costs, public relations expenses and defence costs
Losses incurred for civil fines and penalties imposed pursuant to Section 78ff (c) or Section 1 78dd – 2(g) (2) of the Foreign Corrupt Practices Act or any similar legislation in any other jurisdiction.
Where there has been fraudulent conduct, non-disclosure, misrepresentation or intent to deceive, the policy will nevertheless be maintained for each innocent director.
The policy will pay legal representation expenses for an insured person who during the policy period is formally required to attend an official investigation into the affairs of the company or the insured person (whilst acting in their capacity as such)