Page 136 - Agriculture Policy Wording Binder

Directors' and Officers' Liability (Claims-made Basis)
DIRECTORS' AND OFFICERS' LIABILITY (CLAIMS-MADE BASIS)
DEFINED EVENTS
Damages which the Insured shall become legally liable to pay consequent upon injury, damage or loss which occurred in the course of or in connection with the business within the Territorial Limits and on or after the Retroactive Date shown in the Schedule, and which results in a claim or claims first being made against the Insured in writing during the period of insurance;
PROVIDED THAT:
the Company shall not be responsible to pay for in respect of any judgment, award, payment or settlement made within countries which operate under the laws of the United States of America and/or Canada or to any order made anywhere in the world to enforce such judgment, award, payment or settlement either in whole or in part, in respect of:
1. Director's Personal Liability
claims first made against a director jointly and/or severally, during the period of insurance, for which the director will become legally liable to pay damages, as a result of a wrongful act;
2. Company reimbursement
claims first made against a director, during the period of insurance, for which the director is legally liable to pay damages, as a result of a wrongful act and where the Insured has indemnified the director;
3. Defence costs
Claimant's costs and expenses and defence costs, incurred during the period of insurance with the Company's prior written consent, in respect of any claim which is the subject of an indemnity provided by either Insuring Agreement 1 or 2 above;
PROVIDED THAT:
1. the Insured's total liability in respect of any one claim for all amounts payable in accordance with the Insuring Agreements and the Extensions, inclusive of claimant's costs and expenses, defence costs and any other amounts payable by the Company under this Section of the Policy will not exceed the Limit of Indemnity stated in the Schedule during the period of insurance;
2. the renewal of this insurance from period to period or any extension of any period of insurance will not have the effect of accumulating or increasing the liability of the Company beyond the Limit of Indemnity stated in the Schedule;
3. the Company is under no obligation to provide an indemnity unless the wrongful act first takes place on or after the Retroactive Date stated in the Schedule.
TERRITORIAL LIMITS
Anywhere in the world but not in connection with:
1. any business carried on by the Insured at or from premises outside;
2. any contract for the performance of work outside;
the Republic of South Africa, Namibia, Botswana, Lesotho, Eswatini (formerly Swaziland), Zimbabwe, Mozambique and Malawi.
LIMIT OF INDEMNITY
The amount payable, inclusive of any legal costs recoverable from the Insured by a claimant or any number of claimants and all other costs and expenses incurred with the Company's consent for any one event or series of events with one originating cause or source, shall not exceed the Limit of Indemnity stated in the Schedule.
Page | 134 Policy Wording – Agriculture – Binder – Version 2 2023