Page 103 - Hollard Business Branch Policy Wording

Directors' and O cers' Liability (Claims-made Basis)
4. Pollu on
arising out of, based upon or a ributable to the actual, alleged or threatened discharge, dispersal, release or escape of, or records concerning a pollutant; or any request to test for, monitor, clean up, remove, contain, treat, detoxify or neutralise a pollutant.
5. Trustees and administrators
arising out of, based upon or a ributable to any act or omission as trustee, duciary or administrator of any pension plan, welfare plan, re rement fund, pro t sharing, share op on, share incen ve scheme or trust or any other employee bene t programme.
6. Fines and penal es
for any nes or penal es, loss of licence, the payment of taxes or remunera on, liquidated or non-compensatory damages including puni ve or exemplary damages, or the mul plied por on of mul ple damages, or any amount which is deemed uninsurable by law or contrary to public policy.
7. USA/Canada claims
arising out of, based upon or a ributable to, directly or indirectly resul ng from or in consequence of, or in any way involving any ma er or claim where relief is sought or legal ac on or li ga on is threatened or pursued in a court of law or other authority, cons tuted in the United States of America and/or Canada, or arising out of any ac vi es carried on in the United States of America and/or Canada.
8. Professional indemnity
arising out of, based upon or a ributable to any actual or alleged breach of professional services provided to, or professional duty owed to, a third party.
9. Major shareholder
made or ins gated by any member of the Insured holding or controlling more than 25% (twenty ve percent) of the shares, stock or debentures.
10. Insured versus Insured
made or ins gated by any director against any other director, provided that this Excep on will not apply to:
10.1 any claim brought or maintained by a director for contribu on or indemnity, if the claim directly results from another claim otherwise covered under this Sec on of the Policy;
10.2 subject to Excep on 9, any shareholder ac on brought or maintained by the Insured's behalf without the solicita on, assistance or par cipa on of any director or of the Insured;
10.3 any claim brought or maintained by a curator, liquidator, receiver or administra ve receiver either directly or deriva vely on behalf of the Insured without the solicita on, assistance or par cipa on of any director or of the Insured;
10.4 any claim brought or maintained by any former director of the Insured;
10.5 any employment prac ce viola on.
11. Asbestos
arising out of, based upon or a ributable to, directly or indirectly resul ng from or in consequence of, or in any way involving asbestos or any materials containing asbestos in any form or quan ty.
12. Sanc ons
arising out of, based upon or a ributable to, directly or indirectly resul ng from or in consequence of, or in any way involving any ma er or claim where an indemnity provided or payment made under this Sec on of the Policy would be in breach or contraven on of, or would expose the Company or any reinsurer to, any trade or economic sanc on or prohibi on or penalty or restric on imposed by the United Na ons, the laws or regula ons pertaining to the European Union, the United Kingdom or the United States of America.
Page | 102 Hollard Business Policy – Branch – Version 1 2018