Page 81 - Liability Insurance IC74

Guide for Liability Insurance

1. Payment on behalf of the Directors or Officers of
the company for any Loss arising from any claim
was made against them during the period of
insurance and notified to the underwriters during
the period of insurance for any Wrongful Acts
committed in the capacity of Director or Officer of
the company except for the extent that the company
has indemnified the Directors and the Officers.

2. Payment on behalf of the Company for any Loss
arising from any claim first made against the
Directors or Officers during the period of insurance
and notified to the underwriters during the period of
insurance for any Wrongful Acts committed in the
capacity of Director or Officer of the Company but
only when and to the extent that the Company shall
be quiet or permitted to indemnify the Directors or
Officers pursuant to the law, common or statutory,
or the Memorandum and Articles of Association.

This coverage is known as Company
Reimbursement Provision. It may also include
indemnification of the Directors and Officers by the
Company for any litigation in respect of the latter's
breach of duty in the conduct of the Company's
affairs if such an obligation is expressed in the

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