Page 104 - Hollard Business Branch Policy Wording

Directors' and O cers' Liability (Claims-made Basis)
13. Terrorism and war
arising out of, based upon or a ributable to, directly or indirectly resul ng from or in consequence of:
13.1 war, any act of war, civil war, invasion, insurrec on, revolu on, use of military power or usurpa on of government of military power;
13.2 the inten onal use of military force to intercept, prevent, or mi gate any known or suspected terrorist act;
13.3 any terrorist acts.
For purposes of this Excep on:
1. war will mean war, whether declared or not, or any warlike ac vi es including use of military force by any sovereign na on to achieve economic, geographic, na onalis c, poli cal, racial, ethnic, religious or other ends;
2. terrorist act(s) will mean any actual or threatened use of force or violence directed at or causing damage, injury, harm or disrup on, or commission of an act of force or violence dangerous to human life or property, against any individual, property or government, with the stated or unstated objec ve of pursuing economic, ethnic, na onalis c, poli cal, racial or religious interests, whether such interests are declared or not. The s or other criminal acts, primarily commi ed for personal gain and acts arising primarily from prior personal rela onships between perpetrator(s) and vic m(s) will not be considered terrorist acts. A terrorist act will also include any act which is veri ed or recognised by the South African government, or the government of the country in which the claim is made against the Insured, as an act of terrorism.
14. Securi es
arising out of, based upon or a ributable to, directly or indirectly resul ng from or in consequence of the actual or intended lis ng, private placement or public o ering of any securi es of the Insured as a company;
PROVIDED THAT:
in the event of any private placement or public o ering the Company may consider removal of this Excep on, but considera on of such removal is subject to receipt from the Insured of the following:
14.1 a wri en declara on signed and dated by the Chairman or Chief Execu ve O cer sta ng that the o ering is not in contraven on of the Ar cles of Associa on, Cons tu on, Memorandum of Incorpora on, laws or bye-laws of the company and that a er enquiry to the best of his/her knowledge and belief he/she is not aware of any circumstance which could give rise to a claim against any Insured;
14.2 a copy of all lings and/or documents which have been or are presented to any relevant authority and/or the exis ng and/or prospec ve shareholders or stockholders of the company;
14.3 such addi onal premium as the Company may reasonably require, together with agreement to any revised Terms, Condi ons and/or Exclusions as may be required by the Company.
15. Commissions
arising out of, based upon or a ributable to, directly or indirectly resul ng from or in consequence of:
15.1 payments, commissions, gratui es, bene ts or any other favours provided to or for the bene t of any full or part- me domes c or foreign government or armed services o cials, agents, representa ves, employees or any members of their family or any en ty with which they are a liated;
15.2 payments, commissions, gratui es, bene ts or any other favours provided to or for the bene t of any full or part- me o cials, directors, agents, partners, representa ves, principal shareholders, or owners or employees, or 'a liates' (as that term is de ned in the Securi es Exchange Act of 1934, including any o cers, directors, agents, owners, partners, representa ves, principal shareholders or employees of such a liates) of any customers of the Insured or any members of their family or any en ty with which they are a liated;
15.3 poli cal contribu ons, whether domes c or foreign.
Hollard Business Policy – Branch – Version 1 2018 Page | 103