The Future Depends on You
|
|
- Marjory Mitchell
- 8 years ago
- Views:
Transcription
1 The Future Depends on You Directors and Officers Liability Insurance (D&O) October 2013
2 Who can be sued? Chief Executive Officer (CEO) Chief Financial Officer (CFO) Management Board of Directors Other officers Company, including subsidiaries and their governing bodies 2
3 Insurance coverage (1/2) Extend coverage for present, future and former Directors of the Group Provide coverage for the Company and umbrella-coverage for Group subsidiaries, their management teams and Board of Directors, assuming over 50% ownership Provide coverage for Directors and Officers, who were appointed by the Company as directors in the related / affiliated companies 3
4 Insurance coverage (2/2) REGULAR AREAS OF DIRECTORS AND OFFICERS RESPONSIBILITY Mergers and acquisitions Eurobonds issue Access to new markets Disputes between the Company and minority shareholders Potential claims from customers, counterparties, government agencies Other potential claims against Directors and the Company 4 D&O POLICE PROTECTS DIRECTORS, OFFICERS AND THE COMPANY FROM THE MISTAKES AND OMISSIONS THAT COULD POTENTIALLY OCCUR IN THE COURSE OF REGULAR MANAGEMENT ACTIVITY POLICE VALIDITY PERIOD 1 YEAR
5 D&O program consists of 3 levels Structure of D&O program Level А For the Board of Directors and other Directors and Officers Level В For the Company Level С For the Company: in respect of 3 rd parties claims (securities) Insurance of the Insured Person against the obligation to reimburse the losses incurred by other persons No deductible amount Insurance of the Company against the Company s obligation to reimburse the losses to the Insured Person (related to the claims against the Insured Person) Deductible amount: USD in USA and Canada USD all other countries Insurance of the Company against the Company s obligation to reimburse the Losses incurred by any other persons Deductible amount: USD in USA and Canada USD all other countries 5 * See more details regarding coverage structure and coverage types, including definitions, exclusions etc. in the Police
6 How does reinsurance work R1 IC R2 R3 R..n MegaFon - Insured party IC - (Insurance company) Russian insurer (1%) R1, R2, R3, R... - Pool of reliable international reinsurers (99%) 6 - Broker
7 Key criteria of reinsurance program Russian Insurer Pool of international reinsurers REQUIREMENTS TO GET GUARANTEED INSURANCE COMPENSATION Insurance and reinsurance terms and conditions have to be identical Insurance terms have to be governed by the Russian law Insurance terms have to comply with the best Russian and international practices Reinsurance shall be made by the pool of reliable international reinsurers with high financial strength ratings Professional broker shall participate in claims settlement 7
8 Rationale behind D&O insurance program Industry All Companies S& P % 9. 9% 20. 2% 24. 1% 28.9% 32.6% 35.1% 38.4% 44.0% 47.3% 49.9% Mining 3.3% 5.6% 13.9% 17.2% 20.5% 26.7% 28.7% 32.9% 35.0% 37.1% 38.2% Consumer cyclical 7.3% 14.8% 19.7% 22.0% 24.2% 30.7% 32.8% 32.8% 34.8% 39.1% 41.2% Energy 0.0% 0.0% 10.0% 10.0% 19.5% 19.5% 19.5% 19.5% 19.5% 19.5% 30.2% Financial Institutions 4.2% 5.6% 21.9% 26.7% 41.9% 46.8% 48.6% 54.5% 73.7% 79.7% 82.0% Pharmaceutical 2.7% 8.6% 29.2% 36.1% 42.5% 48.4% 55.5% 53.8% 69.8% 69.8% 76.7% Industrial 2.8% 5.5% 9.6% 12.2% 16.2% 18.7% 19.9% 22.4% 25.9% 31.8% 32.9% Informational Technology 9.7% 25.0% 33.9% 37.3% 38.4% 39.5% 44.9% 47.0% 47.0% 47.0% 49.5% Materials 4.1% 4.1% 4.1% 10.9% 10.9% 13.2% 13.2% 13.2% 13.2% 13.2% 13.2% Telecommunications 25.0% 38.6% 49.8% 54.8% 54.8% 54.8% 54.8% 54.8% 54.8% 62.3% 62.3% Consumer non-cyclical 5.0% 10.8% 39.5% 41.6% 43.6% 45.6% 45.6% 47.5% 49.5% 49.5% 49.5% * Turner data. 0% 0%- 25% 25%-50% 50% The cumulative probability of claims against Directors or Officer for all S&P500 companies has reached up to 49.9% for the eleven years since 1999 Worldwide the probability of claims against directors or officers of telecommunication companies is 62% D&O insurance is one of the key elements of corporate governance culture for all major public companies in Russia and worldwide 8
9 Key terms and conditions of D&O program INSURANCE AREA Worldwide LIMIT OF LIABILITY 150,000?000 USD RUSSIAN INSURER OJSC SOGAZ INTERNATIONAL REINSURANCE Companies with high financial strength ratings - not lower then S&P A- or equivalent, including (but not limited to) ACE Group, Lloyd s of London, Zurich-Re, Allianz and other reinsurance companies with high financial strength ratings and experience in Russia TOTAL INSURANCE COSTS Shall not exceed 205,000 USD INSURANCE PERIOD 1 year, from till INSURANCE BROKER Turner Group 9
Appendix No. 1 Policy provisions. 2.29 The insured person means any individual who
15. Determination of the price (pecuniary valuation) of services acquired by JSC Inter RAO under the Directors and Officers Liability Insurance Policy to be executed between JSC Inter RAO and JSC "SOGAZ"
More informationApplication For Private Company Directors, Officers And Employees Liability Coverage Privately Owned Company
Application For Private Company Directors, Officers And Liability Coverage Privately Owned Company Zurich-American Insurance Group PLEASE NOTE: This Application is for PRIVATELY HELD Companies only. Directors
More informationa) Are its shares traded or expected to be traded on the London Stock Exchange or any other Exchange where its shares may be bought or sold?
DIRECTORS AND OFFICERS AND CORPORATE LIABILITY INSURANCE APPLICATION FORM ALL COMPANIES IMPORTANT NOTICE TO THE APPLICANT To apply for Directors and Officers Liability, Corporate Liability or Employment
More informationDIRECTORS & OFFICERS LIABILITY INSURANCE
DIRECTORS & OFFICERS LIABILITY INSURANCE INTRODUCTION C or p or ate indemni cation and insurance policies designed to protect D i r e c t o r s a n d c e r s ( D & O s ) a r e complex technical documents.
More informationwww.pwc.com/ua/capital-markets
www.pwc.com/ua/capital-markets Which market? An overview of London, New York and Hong Kong stock exchanges Capital Markets The process of selecting the most appropriate exchange for your business to list
More informationNumber: 200636085 Release Date: 9/8/2006 Internal Revenue Service. Department of the Treasury Washington, DC 20224. Index Number: 162.
Number: 200636085 Release Date: 9/8/2006 Internal Revenue Service Index Number: 162.04-03 ---------------------------- ------------------------------------------------- ---------------------------- -----------------------
More informationInfinity Sponsored Errors and Omission Insurance Program Frequently Asked Questions
Infinity Sponsored Errors and Omission Insurance Program Frequently Asked Questions 1. What Professional Services does the E&O policy cover? Coverage under the policy applies to Claims arising out of the
More informationFinancial Services Commission of Ontario
Filing Guidelines Simplified ( Simplified Filing Guidelines ) for proposed revisions to Automobile Insurance Rates and Risk Classification Systems A. GENERAL INFORMATION These Simplified Filing Guidelines
More informationMANAGING EMPLOYEE RISKS
MANAGING EMPLOYEE RISKS FOCUSING ON MULTINATIONAL SOLUTIONS Multinational Benefits, Multinational Risks Building a successful benefits strategy comes with challenges, opportunities and risks, even within
More informationLUXURY EXPENDITURE POLICY
LUXURY EXPENDITURE POLICY ISSUE DATE: SEPTEMBER 14, 2009 REVISED: APRIL 21, 2011 TABLE OF CONTENTS 1 OVERVIEW 2 2 POLICY 3 3 PROGRAM RULES 4 4 CONTROLS 7 Overview Page 1 of 7 1 OVERVIEW 1.1 OBJECTIVE The
More informationPROPOSAL FORM FOR DIRECTORS AND OFFICERS LIABILITY INSURANCE
PROPOSAL FORM FOR DIRECTORS AND OFFICERS LIABILITY INSURANCE NOTICE: PLEASE READ CAREFULLY. THIS IS A PROPOSAL FOR A CLAIMS-MADE AND REPORTED POLICY. THE POLICY FOR WHICH THIS PROPOSAL IS MADE IS LIMITED
More informationTHE HARTFORD DIRECTORS, OFFICERS AND ENTITY LIABILITY INSURANCE APPLICATION (FINANCIAL INSTITUTIONS/FINANCIAL SERVICES) NEW YORK
, a stock insurance company, herein called the Insurer THE HARTFORD DIRECTORS, OFFICERS AND ENTITY LIABILITY INSURANCE APPLICATION (FINANCIAL INSTITUTIONS/FINANCIAL SERVICES) NEW YORK NOTICE: THIS IS A
More informationSCHEDULE 5 INSURANCE TABLE OF CONTENTS 1. INSURANCE REQUIREMENTS... 1
SCHEDULE 5 INSURANCE TABLE OF CONTENTS 1. INSURANCE REQUIREMENTS... 1 1.1 Project Specific Construction Period Insurance... 1 1.2 Additional Construction Period Insurance... 1 1.3 Operating Period Insurance
More informationBEDFORD UNDERWRITERS, LTD.
BEDFORD UNDERWRITERS, LTD. 315 East Mill St., P. O. Box 278 Plymouth, WI 53073 Ph. (920) 892-8795 (800) 735-1378 FAX (920) 892-8980 APPLICATION FOR INSURANCE AGENTS AND BROKERS ERRORS AND OMISSIONS COVERAGE
More informationAddressing a Corporate Structure Issue
Addressing a Corporate Structure Issue Industry Manufacturing Motivation A manufacturer of safety products believed it had adequate insurance and cash flow to cover its silica claims, but management wanted
More informationOPEN JOINT-STOCK COMPANY RUSSIAN TRADING SYSTEM STOCK EXCHANGE
OPEN JOINT-STOCK COMPANY RUSSIAN TRADING SYSTEM STOCK EXCHANGE Summary consolidated financial statements derived from the audited consolidated financial statements for the year ended 31 December 2010 Summary
More informationERRORS AND OMISSIONS INSURANCE FOR CONSTRUCTION, TECHNICAL AND PLANNING CONSULTANTS
ERRORS AND OMISSIONS INSURANCE FOR CONSTRUCTION, TECHNICAL AND PLANNING CONSULTANTS For All the Commitments You Make IMPORTANT INSTRUCTIONS: Please: 1. Answer all questions completely. 2. If there is insufficient
More informationPower Source SM Directors and Officers Liability Insurance. From Chubb
Power Source SM Directors and Officers Liability Insurance From Chubb The decisions made by the boards of privately owned companies are not immune from public scrutiny. As leaders of the company, the directors
More informationAccounting for Equity Investments & Acquisitions
Accounting for Equity Investments & Acquisitions % of Outstanding Voting Stock Acquired 0% 20% 50% 100% Nominal Significant Control Level of Influence Fair Value Equity method Valuation Basis Investment
More informationDirectors & Officers Liability (D&O) Insurance. Benchmarking Report 2013
Directors & Officers Liability (D&O) Insurance Benchmarking Report 2013 Contents 1. Executive Summary...4 2. D&O benchmarking survey...6 3. D&O insurance arrangements...8 4. Risk manager role and responsibilities...10
More informationAMERIGROUP Florida, Inc.
Report on Examination of AMERIGROUP Florida, Inc. (Formerly, Physicians Healthcare Plans, Inc.) Tampa, Florida as of December 31, 2003 By The Office of Insurance Regulation Florida Department of Financial
More informationST. JOHNS INSURANCE COMPANY, INC.
REPORT ON EXAMINATION OF ST. JOHNS INSURANCE COMPANY, INC. ORLANDO, FLORIDA AS OF DECEMBER 31, 2006 BY THE OFFICE OF INSURANCE REGULATION TABLE OF CONTENTS LETTER OF TRANSMITTAL...- SCOPE OF EXAMINATION...
More informationDirectors and officers liability best practices guidelines
Directors and officers liability best practices guidelines DIRECTORS AND OFFICERS LIABILITY BEST PRACTICES GUIDELINES INTRODUCTION A continuing challenge to all business is the efficient functioning of
More informationNOTICE OF APPROVED SETTLEMENTS IN ZUNGUI HAIXI CORPORATION SECURITIES CLASS ACTION READ THIS NOTICE CAREFULLY AS IT MAY AFFECT YOUR RIGHTS
NOTICE OF APPROVED SETTLEMENTS IN ZUNGUI HAIXI CORPORATION SECURITIES CLASS ACTION READ THIS NOTICE CAREFULLY AS IT MAY AFFECT YOUR RIGHTS Who this Notice is For: This notice is directed to everyone that
More informationProposal form for ISAM Insurance Solution for Asset Managers
Proposal form for ISAM Insurance Solution for Asset Managers Zurich Insurance Company Ltd Zurich s ISAM solution meets the quality standards of the Swiss Asset Managers Association. www.zurich.ch/isam
More informationManaged Care Organizations and Healthcare Consultants Errors & Omissions Liability
APPLICATION for: Managed Care Organizations and Healthcare Consultants Errors & Omissions Liability Claims Made Basis. Underwritten by Underwriters at Lloyd s, London Notice: The Policy for which this
More informationHow To Appoint A Managing General Agent
Monica J. Lindeen Commissioner of Securities & Insurance Montana State Auditor 840 Helena Ave Helena, MT 59601 Phone: 406.444.2040 800.332.6148 Fax: 406.444.3497 www.csi.mt.gov INSTRUCTIONS FOR APPOINTING/TERMINATING
More informationSurvey on Corporate Governance and Directors & Officers Liability of Listed Companies in Hong Kong. October 2004
Survey on Corporate Governance and Directors & Officers Liability of Listed Companies in Hong Kong October 2004 O t b 2004 Conducted by: Commissioned by: Executive Summary... 3 Survey Objectives... 6
More informationPolicy. Practice. Scheduled Trading Blackouts. May 13, 2015
May 13, 2015 Policy To promote compliance with insider trading prohibitions and to avoid any perception that the Company's insiders have engaged in any improper trading, its directors; officers; those
More informationOur specialist insurance services for Professionals risks
Our specialist insurance services for Professionals risks Price Forbes & Partners is an independent Lloyd s broker based in the heart of London s insurance sector. We trade with all of the major international
More informationFINANCIAL LINES & VENTURE CAPITAL INSURANCE FAQS
FINANCIAL LINES ACE elite PRIVATE EQUITY & VENTURE CAPITAL INSURANCE FAQS 1 The new elite wording is a package policy comprising: Directors & Officers Liability Insurance (D&O) Outside Directors Liability
More informationProfessional Liability Insurance for Chemical Consultants
Professional Liability Insurance for Chemical Consultants Insurance solutions that work to protect you and your business. No matter how cautious you are, the possibility of being sued is a reality for
More informationJ O H N S O N & B R Y A N
J O H N S O N & B R Y A N ELECTRONICS AND INFORMATION TECHNOLOGY ERRORS & OMISSIONS APPLICATION (Claims Made Coverage) Some sections of the application will not apply to your firm. Where this is the case,
More informationRe: Amendment to Professional Liability Insurance Policy Wordings
October 31, 2014 To: All Policyholders of Pro-Demnity Insurance Company From: Byron Treves, President & C.E.O. Re: Amendment to Professional Liability Insurance Policy Wordings Impacts policyholders that
More informationAPPLICATION FOR INSURANCE SERVICES PROFESSIONAL LIABILITY INSURANCE
APPLICATION FOR INSURANCE SERVICES PROFESSIONAL LIABILITY INSURANCE This is an Application for a claims made and reported policy. Please read the entire Application carefully before signing. Whenever used
More informationTODAY S OIL PROVIDES COST-EFFECTIVE COVERAGE THAT FORMS CORNERSTONE CAPACITY FOR ITS MEMBERS WIDER INSURANCE NEEDS.
UNDERSTANDING OIL TODAY S OIL PROVIDES COST-EFFECTIVE COVERAGE THAT FORMS CORNERSTONE CAPACITY FOR ITS MEMBERS WIDER INSURANCE NEEDS. THE ORIGINS OF OIL In the face of a dearth of available capacity from
More informationlabour force professional liability insurance
labour force professional liability insurance application form Notices 1. Intermediary Acting as an Agent for Insurer In effecting this contract of insurance, Lawsons Underwriting Australasia Ltd ABN 35
More informationProposed Insurance Act Amendments Life Insurance
Risk Based Capital for Risk Based Capital for Minimum paid-up share capital increased Class of Business Long-term business Long-term and general insurance business Industrial life business Current Requirement
More informationPlease select one or any of these Cybertech+ Liability Protection coverages
TECHNOLOGY RENEWAL APPLICATION IMPORTANT NOTES: This Application is submitted to Travelers Insurance Company of Canada ( TICC ) and St. Paul Fire and Marine Insurance Company ( SPFM ). In the event a policy
More informationPROPOSAL FORM FOR MANAGEMENT LIABILITY AND COMPANY REIMBURSEMENT INSURANCE
PROPOSAL FORM FOR MANAGEMENT LIABILITY AND COMPANY REIMBURSEMENT INSURANCE Pursuant to Paragraph 4(1) of Schedule 9 of the Financial Services Act 2013, if you are applying for this Insurance for a purpose
More informationREPORT OF EXAMINATION OF THE PACIFIC SELECT PROPERTY INSURANCE COMPANY AS OF DECEMBER 31, 2010
REPORT OF EXAMINATION OF THE PACIFIC SELECT PROPERTY INSURANCE COMPANY AS OF DECEMBER 31, 2010 Filed March 28, 2012 TABLE OF CONTENTS PAGE SCOPE OF EXAMINATION... 1 SUBSEQUENT EVENTS... 2 COMPANY HISTORY...
More informationUNDERWRITTEN IN FEDERAL INSURANCE COMPANY OR VIGILANT INSURANCE COMPANY A. GENERAL INFORMATION
Chubb Group of Insurance Companies 15 Mountain View Road, Warren, New Jersey 07059 APPLICATION VENTURE CAPITAL ASSET PROTECTION POLICY UNDERWRITTEN IN FEDERAL INSURANCE COMPANY OR VIGILANT INSURANCE COMPANY
More informationAXIS PRO Application for Design Professional Liability Insurance
IMPORTANT NOTICE AXIS PRO Application for Design Professional Liability Insurance This is an application for a policy, which if issued, will be on a claims made and reported basis and covers only claims
More informationAPPLICANT S INFORMATION: LEGAL NAME OF AGENCY: BUSINESS ADDRESS:
APPLICANT S INFORMATION: LEGAL NAME OF AGENCY: BUSINESS ADDRESS: COUNTY: DATE FIRM ESTABLISHED: INSURANCE AGENTS AND BROKERS ERRORS & OMISSIONS APPLICATION DATE PRESENT OWNERSHIP ASSUMED CONTROL: Corporation
More informationExternal Auditor Independence Policy
External Auditor Independence Policy Introduction 1 This is a Board approved governance policy. The approach to corporate governance in Chorus Limited ( Chorus ) is set out in the Board and Board Committee
More informationFLORIDA ROOFERS, SHEET METAL & AIR CONDITIONING WORKERS COMPENSATION TRUST FUND
REPORT ON EXAMINATION OF FLORIDA ROOFERS, SHEET METAL & AIR CONDITIONING WORKERS COMPENSATION TRUST FUND WINTER PARK, FLORIDA AS OF DECEMBER 31, 2003 BY THE OFFICE OF INSURANCE REGULATION TABLE OF CONTENTS
More informationRemuneration Policy. - relevant market pay levels, - individual experience and pay - increases for employees across the Group.
Remuneration Policy The main objectives of the remuneration policy are to attract, retain and reward talented staff and management, by offering compensation that is competitive within the industry, motivates
More informationRenaissance. Members Asset Protection Insurance
Renaissance Members Asset Protection Insurance Renaissance - Members Asset Protection Insurance Introducing a new way of protecting Limited Liability Partnerships - Renaissance Renaissance is the first
More informationINSIDER TRADING POLICY SUPERIOR PLUS CORP.
INSIDER TRADING POLICY SUPERIOR PLUS CORP. A fundamental principle of securities legislation is that everyone investing in securities should have equal access to information that may affect their decision
More informationETFs and Index Funds. Similarities and Differences. For professional clients only
ETFs and Index Funds Similarities and Differences For professional clients only Most Exchange Traded Funds (ETFs) and index tracker funds share a common aim. That is, to match the performance of the index
More informationETFs and Index Funds. Similarities and Differences. For professional clients only
ETFs and Index Funds Similarities and Differences For professional clients only Most Exchange Traded Funds (ETFs) and index tracker funds share a common aim. That is, to match the performance of the index
More informationAPPLICATION FOR INSURANCE AGENTS AND BROKERS ERRORS AND OMISSIONS COVERAGE
APPLICATION FOR INSURANCE AGENTS AND BROKERS ERRORS AND OMISSIONS COVERAGE (Claims Made Basis) APPLICANT S INSTRUCTIONS: 1. Answer all questions. If the answer requires detail, please attach a separate
More informationLiability Insurance (D&O) Presented by Caroline Yeo
Directors Beyond Insurance & Officers Liability Insurance (D&O) Presented by Caroline Yeo The Structure of D&O Insurance Covered claim against directors and officers Covered securities claim against the
More informationBy Seth Gillston, with commentary from Tom Kim
M&A Risk Management: Collateral Liabilities and Solutions By Seth Gillston, with commentary from Tom Kim M&A Risk Management: Collateral Liabilities and Solutions Seth Gillston with commentary from Tom
More informationDIRECTORS & OFFICERS LIABILITY INSURANCE
DIRECTORS & OFFICERS LIABILITY INSURANCE WHAT D&O INSURANCE DOES: Protects the personal assets of a company s directors and officers from potential unlimited liability; Protects the company s assets; Provides
More informationAccessing the Cash Values in Your RBC Insurance Universal Life Plan
Accessing the Cash Values in Your RBC Insurance Universal Life Plan Learn the advantages and disadvantages of the three ways you can access your money Contents: Three ways to access your Cash Values...............................
More informationDragonshield Proposal Form Broad Form Management Liability Insurance
AIG Insurance Hong Kong Limited Dragonshield Proposal Form Broad Form Management Liability Insurance Notices: In underwriting your application for coverage, the insurer will rely upon the accuracy and
More informationlabour force professional liability insurance
labour force professional liability insurance application form Notices 1. Intermediary Acting as an Agent for Insurer In effecting this contract of insurance, Lawsons Underwriting Australasia Ltd ABN 35
More informationSUM MANAGEMENT LIABILITY INSURANCE
Toronto Office: 18 King St. E., Suite 903 Toronto, ON M5C 1C4 T: 416-603-7864 or 1-877-603-7864 F: 416-603-7861 www.suminsurance.ca Montreal office: 1001 De Maisonneuve Blvd. W., Suite 900 Montreal, QC
More informationRev. Rul. 2002-91, 2002-52 I.R.B. 991 (12/30/2002)
Rev. Rul. 2002-91, 2002-52 I.R.B. 991 (12/30/2002) Part I Section 831. Tax on Insurance Companies other than Life Insurance Companies 26 CFR 1.831-3: Tax on insurance companies (other than life or mutual),
More informationThe Risk Being Accountable How Professionals can be Exposed How to Minimise the Risk
The Risk Being Accountable One thing is certain reputation damage caused by litigation can be devastating. Professional consulting businesses, and individuals providing specialist expertise, are under
More informationNewsletter No. 194 (EN) Directors and Officers (D&O) Liability Insurance in Hong Kong
Newsletter No. 194 (EN) Directors and Officers (D&O) Liability Insurance in Hong Kong December 2015 All r ig ht s r e ser ved Lo r e nz & P art ner s 2015 Although Lorenz & Partners always pays great attention
More informationREQUEST FOR QUALIFICATIONS FOR INSURANCE BROKER (AGENT) SERVICES
REQUEST FOR QUALIFICATIONS FOR INSURANCE BROKER (AGENT) SERVICES PROPOSED INSURED: Kootenai County Fire & Rescue P.O. Box 2200 Post Falls, ID 83877 PROPOSAL CONTACT: Ron Sampert, Chief Samantha Babich,
More informationFrom: Hong Kong Wah Sun Company [mailto:wahsuntradinghongkong@outlook.com] Sent: Friday, October 23, 2015 3:39 PM Subject: Conflict Check
From: Hong Kong Wah Sun Company [mailto:wahsuntradinghongkong@outlook.com] Sent: Friday, October 23, 2015 3:39 PM Subject: Conflict Check Legal Matter in process to review of proposed transaction contract
More informationEXCESS DIRECTORS AND OFFICERS LIABILITY INSURANCE
EXCESS DIRECTORS AND OFFICERS LIABILITY INSURANCE APPLICATION THE COMPLETION AND SUBMISSION TO ENERGY INSURANCE MUTUAL LIMITED OF THIS APPLICATION FOR EXCESS DIRECTORS AND OFFICERS LIABILITY INSURANCE
More informationIMPORTANT NOTICE TO THE APPLICANT
Proposal Form Directors and Officers Liability Insurance ALL COMPANIES IMPORTANT NOTICE TO THE APPLICANT Please fully complete this Proposal Form. It is very important that the person completing the Proposal
More informationFairway Physicians Insurance Company, A Risk Retention Group GOVERNMENT OF THE DISTRICT OF COLUMBIA DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
GOVERNMENT OF THE DISTRICT OF COLUMBIA DEPARTMENT OF INSURANCE, SECURITIES AND BANKING REPORT ON EXAMINATION Fairway Physicians Insurance Company, A Risk Retention Group AS OF DECEMBER 31, 2007 NAIC NUMBER
More informationSTATE OF MICHIGAN DEPARTMENT OF LABOR & ECONOMIC GROWTH OFFICE OF FINANCIAL AND INSURANCE SERVICES
In the matter of: STATE OF MICHIGAN DEPARTMENT OF LABOR & ECONOMIC GROWTH OFFICE OF FINANCIAL AND INSURANCE SERVICES Before the Commissionerof the Office of Financialand Insurance Services Premier Mortgage
More informationPurpose of This Document
Notice to Employees of AstraZeneca Pharmaceuticals LP and AstraZeneca LP, of Application for Authorization Under Prohibited Transaction Exemption 96-62, as Amended Purpose of This Document You are hereby
More informationPROFESSIONAL INDEMNITY INSURANCE COUNCIL OF ENGINEERS JANUARY 22, 2014
PROFESSIONAL INDEMNITY INSURANCE COUNCIL OF ENGINEERS JANUARY 22, 2014 RISKS MANAGEMENT MIX STRATEGY Transferred Risk (Insurance) Level Of Risk Reduced Risk (Safety Measures) Avoided Risk Retained Risk
More informationManaging E&O Insurance Coverage During Mergers & Acquisitions An Axis Insurance Services, LLC White Paper July 3, 2013
Managing E&O Insurance Coverage During Mergers & Acquisitions An Axis Insurance Services, LLC White Paper July 3, 2013 1 Managing E&O Insurance Coverage During Mergers & Acquisitions In today s business
More informationINSIDER TRADING AND BLACKOUT POLICY
INSIDER TRADING AND BLACKOUT POLICY Amended and Restated by the Board of Directors on December 22, 2011 Page 1 of 11 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY... 3 2. INTRODUCTION... 4 3. MATERIAL INFORMATION...
More informationNews from The Chubb Corporation
News from The Chubb Corporation The Chubb Corporation 15 Mountain View Road P.O. Box 1615 Warren, New Jersey 07061-1615 Telephone: 908-903-2000 FOR IMMEDIATE RELEASE Chubb Reports Second Quarter Net Income
More informationSUPERIOR PLUS CORP. COMPENSATION COMMITTEE MANDATE
SUPERIOR PLUS CORP. COMPENSATION COMMITTEE MANDATE A. Purpose The purpose of the Compensation Committee (the Committee ) of the Board of Directors (the Board ) of Superior Plus Corp. (the Corporation )
More information64th Legislature AN ACT INCREASING MOTOR VEHICLE LIABILITY INSURANCE MINIMUM REQUIREMENTS FOR
64th Legislature HB0375 AN ACT INCREASING MOTOR VEHICLE LIABILITY INSURANCE MINIMUM REQUIREMENTS FOR PROPERTY DAMAGE; AMENDING SECTION 61-6-103, MCA; AND PROVIDING AN APPLICABILITY DATE. BE IT ENACTED
More informationREPORT OF EXAMINATION OF THE NATIONS INSURANCE COMPANY AS OF DECEMBER 31, 2011
REPORT OF EXAMINATION OF THE NATIONS INSURANCE COMPANY AS OF DECEMBER 31, 2011 Filed April 8, 2013 TABLE OF CONTENTS PAGE SCOPE OF EXAMINATION... 1 MANAGEMENT AND CONTROL:... 2 Management Agreements...
More informationRenaissanceRe. Professional Indemnity Insurance
Syndicate 1458 Professional Indemnity Insurance Syndicate 1458 Professional Indemnity Insurance established Syndicate 1458 at Lloyd s in 2009. is a leading global provider of property catastrophe and specialty
More informationClinical Trials Insurance. Global solutions for clinical trials liability
Clinical Trials Insurance Global solutions for clinical trials liability Specialist cover for clinical research. The challenges of international clinical research are now increasing faster than ever. Pharmaceutical
More informationConvenience Translation the German version is the only legally binding version. Articles of Association. Linde Aktiengesellschaft.
Convenience Translation the German version is the only legally binding version Articles of Association Linde Aktiengesellschaft Munich 9 March 2015 Page 1 of 12 I. General Rules 1. Company Name, Principal
More informationReal Estate Errors & Omissions Indemnity Plan
B R I T I S H C O L U M B I A Real Estate Errors & Omissions Indemnity Plan No. RE0398 Issued by Real Estate Errors and Omissions Insurance Corporation (Herein called the Corporation ) Pursuant to the
More informationGB MINERALS LTD INSIDER TRADING POLICY
GB MINERALS LTD INSIDER TRADING POLICY (as approved by the Board of Directors in May 2014) - 2 - Contents 1. POLICY STATEMENT... 3 2. PERSONS AND SECURITIES COVERED BY THIS POLICY... 3 3. MATERIAL NON-PUBLIC
More informationTRIMETALS MINING INC. SHARE TRADING POLICY (As at March 7, 2011)
TRIMETALS MINING INC. SHARE TRADING POLICY (As at March 7, 2011) I. Purpose Applicable securities laws in Canada prohibit the purchase or sale of securities on the basis of material non-public information
More informationACE Insurance Limited ELITE II PROFESSIONAL INDEMNITY INSURANCE POLICY
ELITE II PROFESSIONAL INDEMNITY INSURANCE POLICY Renewal Proposal Form - Miscellaneous ABN 23 001 642 020 AFSL 239687 Page 1 of 8 ACE ELITE II PROFESSIONAL INDEMNITY INSURANCE RENEWAL PROPOSAL FORM Miscellaneous
More informationCOMPANY CONTACTS: Jay S. Hennick Founder & CEO. D. Scott Patterson President & COO (416) 960-9500
COMPANY CONTACTS: Jay S. Hennick Founder & CEO D. Scott Patterson President & COO John B. Friedrichsen Senior Vice President & CFO (416) 960-9500 FOR IMMEDIATE RELEASE FirstService Reports Record Fourth
More informationDirectors and Officers Liability Insurance
Directors and Officers Liability Insurance New Zealand Proposal form Completing the Proposal form 1. This application must be completed in full including all required attachments. 2. If more space is needed
More informationTEXAS FAIR PLAN PRODUCER REQUIREMENTS AND PERFORMANCE STANDARDS
Producer Requirements Page 1 TEXAS FAIR PLAN PRODUCER REQUIREMENTS AND PERFORMANCE STANDARDS The following Texas FAIR Plan Association ( Association ) requirements and producer performance standards (
More informationBARRY F. LORENZETTI MISSION STATEMENT A MESSAGE FROM THE PRESIDENT
15 MISSION STATEMENT To be the most professional, client-oriented and innovative insurance brokerage and consulting firm in Canada, through a disciplined and dedicated team approach. A MESSAGE FROM THE
More informationVALIDUS ANNOUNCES 2015 FULL YEAR NET INCOME OF $374.9 MILLION 2015 NET OPERATING RETURN ON AVERAGE EQUITY OF 11.3%
VALIDUS ANNOUNCES 2015 FULL YEAR NET INCOME OF $374.9 MILLION 2015 NET OPERATING RETURN ON AVERAGE EQUITY OF 11.3% BOOK VALUE PER DILUTED COMMON SHARE OF $42.33 AT DECEMBER 31, 2015 Pembroke, Bermuda,
More informationYour Open Source Investment Know. Manage. Protect.
Using open source software provides a compelling business case, but if companies violate the software s licenses, the consequences can be more severe than they think. Open Source Risk Management s services
More informationGENWORTH MI CANADA INC.
Condensed Consolidated Interim Financial Statements (In Canadian dollars) GENWORTH MI CANADA INC. Three and six months ended June 30, 2015 and 2014 Condensed Consolidated Interim Statements of Financial
More informationInformation Canada s Financial Services Sector
Property and Casualty Insurance in Canada Overview Information Canada s Financial Services Sector The property and casualty (P&C) insurance industry in Canada provides coverage for all risks other than
More informationQBE INSURANCE GROUP LIMITED. JP Morgan AUSTRALASIAN INVESTMENT CONFERENCE SINGAPORE OCTOBER 2004. Presenter: Neil Drabsch, CFO
QBE INSURANCE GROUP LIMITED JP Morgan AUSTRALASIAN INVESTMENT CONFERENCE SINGAPORE OCTOBER 2004 Presenter: Neil Drabsch, CFO 1 Company overview QBE is an Australian-based general insurance and reinsurance
More informationa) Employers Liability Insurance Policy Wording
a) Employers Liability Insurance Policy Wording SECTION 1: PREAMBLE In consideration of the payment of the premium to US, WE shall provide the cover described in the POLICY, subject to its terms and conditions,
More informationTHIRD PARTY ADMINISTRATOR AGREEMENT. (Hereinafter, Agreement ) Between
THIRD PARTY ADMINISTRATOR AGREEMENT (Hereinafter, Agreement ) Between Those underwriting members of Lloyd s, and those other insurers (if any), individually and severally subscribing to the Contract(s)
More informationPro-Tect Asset Protection
Pro-Tect Asset Protection Protection for Partner s Dependants against Catastrophic Negligence Claims Developed exclusively for Solicitors by ACE European Markets & Professions PRO-TECT - PROTECTION FOR
More informationSection 162(m): Limit on Compensation Regina Olshan, Skadden, Arps, Slate, Meagher & Flom LLP and Paula Todd, Towers Watson
Section 162(m): Limit on Compensation Regina Olshan, Skadden, Arps, Slate, Meagher & Flom LLP and Paula Todd, Towers Watson This Practice Note is published by Practical Law Company on its PLC Employee
More informationAPPLICATION FOR INSURANCE AGENTS AND BROKERS ERRORS AND OMISSIONS COVERAGE
APPLICATION FOR INSURANCE AGENTS AND BROKERS ERRORS AND OMISSIONS COVERAGE (Claims Made Basis) APPLICANT S INSTRUCTIONS: 1. Answer all questions. If the answer requires detail, please attach a separate
More informationDIRECTORS AND OFFICERS LIABILITY INSURANCE AND COMPANY REIMBURSEMENT PROPOSAL FORM
DIRECTORS AND OFFICERS LIABILITY INSURANCE AND COMPANY REIMBURSEMENT PROPOSAL FORM Please Note: This is a proposal form for a policy relating to claims made against the Insured during the period of the
More informationState of Rhode Island and Providence Plantations DEPARTMENT OF BUSINESS REGULATION Division of Insurance 1511 Pontiac Avenue Cranston, RI 02920
Table of Contents State of Rhode Island and Providence Plantations DEPARTMENT OF BUSINESS REGULATION Division of Insurance 1511 Pontiac Avenue Cranston, RI 02920 INSURANCE REGULATION 21 MEDICAL MALPRACTICE
More informationAPPLICATION FOR INSURANCE SERVICES PROFESSIONAL LIABILITY INSURANCE
APPLICATION FOR INSURANCE SERVICES PROFESSIONAL LIABILITY INSURANCE This is an Application for a claims made and reported policy. Please read the entire Application carefully before signing. Whenever used
More information