Page 116 - Hollard Business Policy - Binder

1.1
1.2 1.3
1.4
1.5
the gaining of any personal profit, reward, advantage or receiving of any remuneration to which a director was not legally entitled;
any criminal act other than costs as provided for in Extension 4;
any matter or allegation that a director improperly benefited from any transaction relating to shares, stock or debentures as a result of information that was not readily available to other sellers or purchasers of such shares, stock or debentures;
any matter or allegation involving dealings by which it is sought to affect the price of shares, stock or debentures, any goods or services or currency or negotiable instrument, other than dealings carried out in accordance with all applicable laws and regulations pertaining to such dealings;
any matter which is deemed to be uninsurable under any law applicable to this Section of the Policy.
For the purpose of determining the applicability of this Exception, the information or knowledge possessed by any director will not be imputed to any other director.
2. Property damage and bodily injury
in respect of injury and damage, sickness, disease, death or emotional distress, or damage to, destruction, impairment or loss of use of any property;
PROVIDED THAT:
any claim for emotional distress will not be excluded with respect to an employment practice violation.
3. Prior claims and circumstances
arising out of, based upon or attributable to:
3.1 any claim made prior to or pending at the inception of this Section of the Policy;
3.2 any circumstance that, as of the inception of this Section of the Policy, may reasonably have been expected
to give rise to a claim;
3.3 any circumstance or claim of which notice has been given under any policy existing or expired before or on
the inception date of this Section of the Policy;
PROVIDED THAT:
nothing contained in this exclusion will be interpreted as releasing the insured from the obligation to reveal as a material fact all details of claims made or circumstances or events likely to give rise to a claim.
Directors' and Officers' Liability (Claims-made Basis)
In the event of any one originating cause giving rise to a claim or series of claims which form the subject of indemnity by more than one extension of this Section, each Extension shall apply separately and be subject to its own separate Limit of Indemnity;
PROVIDED THAT:
the Company's liability shall be limited to the highest Limit of Indemnity available under any one of the Extensions affording indemnity for the claim or series of claims.
Where more than one period of insurance of this Section of the Policy, following its renewal or replacement may apply to an originating cause or sources, the Company's liability will be limited to the maximum Limit of Indemnity for any one such period of insurance.
SPECIFIC EXCEPTIONS
The Company shall not indemnify the Insured in respect of:
1. Illegal/improper conduct
arising out of, based upon or attributable to:
Page | 114 Hollard Business Policy – Binder – Version 8 2024