华泰财产保险DO 英文非报备.docx
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华泰财产保险DO 英文非报备.docx
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华泰财产保险DO英文非报备
HUATAIINSURANCECOMPANYOFCHINA,LIMITED
DIRECTORS&OFFICERSLIABILITYINSURANCEPOLICYWORDING
InconsiderationofthepaymentofthePremiumandinrelianceuponallstatementsmadeandinformationfurnishedtoHuataiInsuranceCompanyofChina,Limited(“Huatai”),includingstatementsmadeintheproposalandmaterialsaccompanyingit,andsubjecttoallterms,conditions,exclusionsandlimitationsofthisPolicy,HuataiagreeswiththeInsured(s)andwiththeCompanyasfollows:
1.InsuringAgreement
HuataishallpayonbehalfoftheInsured(s)allLosswhichtheyarelegallyobligatedtopay,and/orshallpayonbehalfoftheCompanyallLosswhichtheCompanyislegallyrequiredorpermittedtopaytheInsured(s)asadvancementsorindemnityunderapplicablecompanyindemnitylaws,rules,regulationsoragreements,foranyClaimagainsttheInsured(s)foraWrongfulAct,providedtheClaimisfirstmadeagainsttheInsured(s)duringthePolicyPeriod.
2.Definitions
(a)“AdministrativeAuthority”meansanynational,provincial,localgovernment,orgovernmentaloradministrativebody,agencyorcommission.
(b)“Claim”meansanynoticereceivedby,theCompany,orbytheInsured(s)allegedtohavecommittedaWrongfulAct,oftheintentionofapersonorentitytoholdtheInsured(s)responsiblefortheresultsofanyWrongfulAct,includinganydemandreceivedbytheInsured(s)formoneyorservicesnamingtheInsured(s)asdefendant(s),ortheinstitutionoflegal,arbitrationoradministrativeproceedingsagainsttheInsured(s).
(c)“Company”meanstheCompanyshowninItem2oftheScheduleandanySubsidiary.
(d)“Deductible”meanstheamountshowninItem5oftheSchedule.
(e)“DefenceCosts”meansreasonablelegalfees,costsandexpensesincurredbyoronbehalfoftheInsured(s)withthepriorwrittenconsentofHuatai(butshallnotincludewages,salariesorotherremunerationoftheInsured(s)orofanyemployeeoftheCompany)whicharenecessarytodefendorappealaClaimcoveredbythisPolicy.
(f)“DiscoveryPeriod”meanstheperiodof12monthsreferredtoinClause3(f)whichshallrunfromthedatethisPolicyexpires.
(g)“EmploymentPracticeLiability”means,withrespecttoanypast,presentorprospectiveemployeeoftheCompany,anyactualoralleged:
(1)employment-relatedsexualorotherunlawfulharassment;
(2)terminationofemploymentwhichisagainstthelaw;
(3)employment-relatedunlawfuldiscrimination;
(4)employmentrelateddenialofjustice;
(5)falseormisleadingadvertisingorrepresentationinvolvingtermsorconditionsofemploymentwiththeCompany;
(6)employment-relateddefamation;
(7)failuretoemploy,promoteorgranttenure;
(8)unfairdeprivationofcareeropportunity;
(9)unfairdisciplineorevaluationofemploymentperformance;
(10)failuretoprovideoradheretoadequateemploymentpoliciesorprocedures;
(11)violationofanylawsorregulationsgoverningemploymentpractices;
(12)breachofemploymentcontract;
(13)employment-relatedinvasionofprivacy.
(h)“Insured(s)”meansallnaturalpersonswhowere,nowareorshallbedirectors,supervisors,officers,companysecretariesoremployees(butonlywheresuchemployeesareactinginamanagerialcapacity)oftheCompany.
ThetermInsured(s)shallalsoinclude:
(1)thelawfulspousesofalldirectors,supervisors,officers,companysecretariesoremployees(butonlywheresuchemployeesareactinginamanagerialcapacity)oftheCompany;
(2)theestates,heirsorlegalrepresentativesofdeceasedpersonswhoweredirectors,supervisors,officers,companysecretariesoremployees(butonlywheresuchemployeesareactinginamanagerialcapacity)oftheCompanyatthetimeoftheWrongfulActuponwhichtheClaimisbased;
(3)thelegalrepresentativesofdirectors,supervisors,officers,companysecretariesoremployees(butonlywheresuchemployeesareactinginamanagerialcapacity)oftheCompanyintheeventofincompetency,insolvencyorbankruptcy;
ThetermInsured(s)shallnotinclude:
(1)areceiverororaliquidator;
(2)anofficialmanager;
(3)anexternalauditor;
(4)atrusteeoradministratorofanyoccupationalpensionschemeoremploymentbenefitprogrammes.
oranyemployee(s)ofsuchperson(s).
(i)“Investigation”meansanyinvestigation,inquiry,publicexamination,commissionorprosecution,criminalorotherwise;
(j)“Loss”meansanydamages,judgments,settlementsandDefenceCosts.Lossshallnotincludefinesorpenaltiesimposedbylaw,punitiveorexemplarydamages,taxes,anyamountforwhichtheInsured(s)isnotlegallyliableoranymatterdeemeduninsurableunderthelaw.Damages,judgments,settlementsandDefenceCostsincurredwithrespecttomorethanoneClaimagainsttheInsured(s),butresultingfromasingleWrongfulActshallconstituteasingleLoss.
(k)“Non-ProfitOrganisation”meansanycorporation,institution,association,trust,fundorfoundationestablishedforanysocial,community,charitableorindustrypurposetoprovideservicesorbenefitstoitsmembersandnotforthepurposeofmakingprofits.
(l)“OutsideDirectorship”meansthepositionheldbytheInsured(s)inanOutsideOrganisationwiththeknowledgeandconsentandattherequestoftheCompany.
(m)“OutsideOrganisation”meansanycompanyororganisation,otherthantheCompany,inwhichanOutsideDirectorshipisheld.
(n)“Policy”means:
(1)theInsuringAgreement,theDefinitions,theExtensions,theExclusions,theConditionsandallothertermscontainedherein;
(2)theProposalandanyattachmentsthereto;
(3)anyEndorsementattachingtoandformingpartofthisPolicyeitheratcommencementofthePolicyPeriodorduringthePolicyPeriod.
(o)“PolicyPeriod”meanstheperiodoftimeshowninItem3oftheScheduleofthisPolicy.
(p)“Premium”meansthepremiumshowninItem6oftheScheduleandanyadditionalpremiumshowninanyEndorsementattachingtoandformingpartofthisPolicy.
(q)“Subsidiary”meansanycompany,includinganycompanyhelddirectlyorindirectlythroughoneormoreSubsidiaries,inwhich,attheinceptionofthePolicyPeriod:
(1)theCompany:
(a)controlsthecompositionoftheBoardofDirectors;or
(b)controlsthevotingpoweratanygeneralmeeting;or
(c)holdsmorethan50%oftheissuedsharecapital;and
(2)theaccountsareconsolidatedwiththeaccountsoftheCompanyinaccordancewithprofessionallyacceptedAccountingStandardsfortheconsolidationofaccountsapplicableinthecountryinwhichthisPolicywasissued.
(r)“WrongfulAct”meansanyactualorallegedact,error,omission,breachofduty,misstatementormisleadingstatementbytheInsured(s)whileactingintheircapacityasInsured(s)oftheCompanyorofanyOutsideOrganisationtowhichtheOutsideDirectorshipExtensionapplies.
3.Extensions
ThefollowingExtensions,whichareautomaticallyincludedinthisPolicy,aresubjecttoalloftheterms,conditions,exclusionsand.limitationsofthisPolicy.TheseExtensionsdonotincreasetheLimitofLiabilityunlessHuataiotherwiseagreesinwriting.
(a)AdvancementofDefenceCosts
HuataishallpayDefenceCostsonbehalfoftheInsured(s)onanongoingbasispriortothefinalpaymentorsettlementofanyClaimPROVIDEDTHAT:
(1)suchDefenceCostsareincurredwiththepriorwrittenconsentofHuatai;
(2)suchadvancepaymentsbyHuataishallberepaidtoHuataiintheeventthattheInsured(s)shallnotbeentitledtopaymentofanyLossorreceiptofanybenefitunderthisPolicy.
(b)Investigations,Inquiries,Prosecutions(CriminalOrOtherwise)
HuataishallpayonbehalfoftheInsured(s)onanongoingbasispriortothefinalpaymentorsettlementofanyClaimallreasonablelegalfees,costsandexpensesincurredinbeinglegallyrepresentedatanyInvestigationPROVIDEDTHAT:
(1)theInvestigationinvolvesanallegationthattheInsured(s)committedaWrongfulAct;
(2)theallegationisfirstmadeagainsttheInsured(s)duringthePolicyPeriod;
(3)suchlegalfees,costsandexpensesareincurredwiththepriorwrittenconsentofHuatai;
(4)thisExtensiondoesnotcoveranyfinesorpenaltiesimposedbylaw;
(5)thisExtensiondoesnotcoverwages,salariesorotherremunerationoftheInsured(s)orofanyemployeeoftheCompany;
(6)suchadvancepaymentsbyHuataishallberepaidtoHuataiintheeventthattheInsured(s)shallnotbeentitledtopaymentofanyLossorreceiptofanybenefitunderthisPolicy.
(c)AcquisitionCreationSaleorDissolutionofSubsidiaries
IfduringthePolicyPeriodtheCompanyacquiresorcreatesaSubsidiarythat:
(1)increasestheCompany’stotalassetsbynogreaterthan10%basedontheCompany’slatestannualreport;and
(2)isdomiciledoutsideoftheUnitedStatesofAmericaorCanada,
thentheInsured(s)ofsuchSubsidiaryshallbeautomaticallycoveredbythisPolicyforClaimsforWrongfulActscommittedorallegedtohavebeencommittedonoraftertheeffectivedateofsuchacquisitionorcreation,andnonoticeneedstobegiventoHuatairelatingtotheacquisitionorcreationofsuchSubsidiaryandnoadditionalpremiumshallbepaidrelatingtothisextendedcover.
IfduringthePolicyPeriodtheCompanyacquiresorcreatesaSubsidiarythateitherincreasestheCompany’sassetsbymorethan10%,orisdomiciledintheUnitedStatesofAmericaorCanada,andwrittennoticeofsuchacquisitionorcreationisgiventoHuataiassoonaspracticable,andtheCompanyagreestopayanyadditionalpremiumrequiredandagreestoanyamendmentstothePolicyrequiredbyHuatairelatingtosuchSubsidiary,thentheInsured(s)ofsuchSubsidiaryshallbecoveredbythisPolicyforClaimsforWrongfulActscommittedorallegedtohavebeencommittedonora
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