Page 121 - Hollard Business Policy - Binder

Directors' and Officers' Liability (Claims-made Basis)
4.1.2 the executor, heirs or legal representatives of a director who has died, or the lawfully appointed legal representatives of a director who has been declared incompetent, insolvent or liquidated, to the extent that in the absence of such death, incompetence, insolvency or liquidation, such a claim against the director concerned would have been covered under this Section of the Policy;
4.2 a prescribed officer as defined in the Companies Act, including the company secretary;
4.3 an employee in a managerial or supervisory capacity;
4.4 a member of a committee of the board including the audit committee and who is acting in such capacity for the Insured.
5. Employment practice violation
5.1 any actual or alleged unfair or wrongful dismissal, discharge or termination, either actual or constructive, of employment, including breach of an implied contract;
5.2 employment-related misrepresentation;
5.3 wrongful failure to employ or promote, wrongful deprivation of career opportunities, or wrongful discipline; failure to furnish accurate job references; failure to grant tenure; negligent employee evaluation; sexual or workplace or racial or disability harassment of any kind (including the alleged creation of a harassing workplace environment);
5.4 unlawful discrimination, whether direct, indirect, intentional or unintentional; failure to provide adequate employee policies and procedures;
5.5 retaliation (including lockouts);
5.6 any other basis for a claim pursuant to the Basic Conditions of Employment Act 1998 or the Labour Relations Act No 66 of 1995 or equivalent legislation found in other jurisdictions;
PROVIDED THAT:
the foregoing act, error, omissions or basis relates to the employment or prospective employment of any past, present, future or prospective employee of the Insured.
6. Limit of indemnity
The maximum amount of the Company's liability in respect of any one claim under this Section of the Policy, as stated in the Schedule.
Any claim or claims arising out of, based upon or attributable to:
6.1 the same cause;
6.2 a single wrongful act;
6.3 a series of continuous, repeated or related wrongful acts;
will be considered a single claim for purposes of this Section of the Policy.
7. Official body
Any regulatory authority or commission, government body or official trade body, empowered to investigate the Insured's affairs and business.
8. Pollutant
Any solid, liquid, gaseous, or thermal irritants, smoke, vapour, soot, fumes, acids, alkalis, chemicals, waste, or other substances or contaminants, bacteria, moulds or other fungi (including but not limited to mildew or mycrotoxins or spores or any other substance or product produced or released by moulds or fungi), which actually or are alleged to adversely affect land, water, atmosphere, property, buildings, other structures, or people, animals, plants, and all other living organisms, or the general environment.
9. Reckless trading
The carrying on of a business in a reckless manner, with gross negligence, with the intent to defraud any person, for any fraudulent purpose, or trading under insolvent circumstances as set out in the Companies Act.
Hollard Business Policy – Binder – Version 8 2024 Page | 119