Directors & Officers

Liability Insurance

In today’s world, corporate risk managers know that management liability and related exposures demand special attention. All companies must have access to insurance solutions that provide the limits they need which are sensitive to local variations in laws and regulations. Zurich is a global market leader in the delivery of financial lines and related coverage including professional indemnity, directors & officers insurance, employment practice liability and commercial crime insurance. With our financial strength and stability, relentless focus on customer service and capabilities in over 170 countries, we can help your organization achieve the security you need with the flexibility and features you desire, even in volatile market conditions.

Zurich Insurance Company – leading the way in specialist insurance

The introduction of the new Companies Act has implications for cover, whereby companies are allowed to indemnify their directors in certain clearly defined circumstances. With the specific inclusion and codification of the common law director’s fiduciary duties, the risk of directors and officers has been exponentially broadened. Directors are now at risk of facing an increase in personal liability which makes class actions a real threat for directors and officers;


Turbulent economic conditions have created unprecedented liability risks for today’s corporate directors and officers. The threat of litigation and investigation is growing across business and industry segments and the legal, financial and personal consequences for corporate leaders and their companies can be enormous.

Challenges that companies face in light of these conditions include:

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  • The revised King III Code of Conduct raises standards of conduct for directors and provides an additional benchmark against which their conduct may be measured which invariably has impact on the risk of companies. Companies listed on the Johannesburg Stock Exchange are required to comply with the King Code in terms of listing requirements;
  • Increasing number of investigations by supervisory, regulatory and international enforcement authorities into possible violations of country’s regulations;
  • The increased number of investor and/or shareholder proceedings against directors and officers after company settlement with investigation authorities;
  • Rising number of suits filed against companies globally, mainly alleging breach of fiduciary duties, accounting fraud and misleading financial statements; and
  • Personal assets, careers and the reputation of directors and officers are at increased risk.


We offer one of the most comprehensive Directors & Officers Liability Insurance solutions available in the market and have capacity of up to US$50 million in respect of global companies. We are geared to work with companies that demonstrate best practice across all elements of the business including governance and control.

Why choose Zurich?

Our methodology is transparent and we share with you the rationale behind our pricing and key elements in our risk assessment. This incorporates a wide range of data including the recorded performance of the board of directors, the mix between non-executive and executive directors, other commitments they may have, an analysis of the financial statements, and reviews of all corporate governance procedures, the audit process and Code of Ethics.

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  • Worldwide coverage, including cover for USA subsidiaries and USA stock market listings;
  • Strong advancement of ‘defence costs’ language;
  • Automatic coverage for outside entity executives;
  • Entity coverage for securities offerings;
  • Non-rescindable/avoidable language for insured persons non-indemnifiable loss;
  • Extradition costs, including overseas travel and accommodation (also applicable for families);
  • Derivative demand investigation costs;
  • Environmental mismanagement cover, including greenhouse gases and other climate change related issues;
  • Indemnity costs for shareholder derivative claims and plaintiff’s fees for derivative claims;
  • Change in control – entitlement to purchase an extra 7 years of coverage discounting the unearned premium from the policy;
  • Insured person has the right to acquire an extended reporting period;
  • Lifetime extended reporting period for retired directors and officers or those who have resigned from office;
  • Additional limit for kidnap response costs;
  • Insured automatic right to incur emergency defence costs;
  • Cover for arrest and detainment or incarceration in a foreign jurisdiction; and
  • Difference in conditions clause.


Coverage Highlights

Our market leading Directors and Officer Liability policy provides unbeatable coverage with the following benefits:

As a broker you have direct access to our dedicated team of specialist financial lines market underwriters who are equipped with the critical skills and the authority to make decisions. Our approach to claims handling is based on speed, professionalism and fairness. Our team of claims handlers is experienced to effectively and efficiently manage your customers’ claim. Together with underwriting, we aim to build long-term transparent relationships with our brokers where knowledge is shared and cost of risk is managed. Whenever a claim arises, we will involve you every step of the way, sharing with you our processes and procedures.

Dedicated Market Underwriters

Claims Management

Other Management Liability Products:

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  • Commercial Crime insurance
  • Employment practices liability insurance
  • Public offering of securities insurance


Professional Indemnity products:

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  • Accountants/Auditors
  • Lawyers/attorneys
  • Architects and engineers
  • IT/media/technology
  • General/Miscellaneous


Financial Institutions:

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  • Investment Structures Insurance Solutions for Asset Managers
  • Investment Structures Insurance Solutions for Private Equity/ Venture Capital
  • Professional Liability Insurance for Financial Institutions
  • Comprehensive Fraud Insurance Policy for Financial Institutions
  • Directors and Officers Liability for Private and Public Financial Institutions


Additional Financial Lines Products

In order to provide maximum protection for your customers we also offer a variety of other products to protect your customers when carrying out their business.


Andre Stols

Registered Financial Provider, Tcepma cc.

FSB NO 36799

TEL: 0117687788/0117682693

Cell: 0823226779

Fax: 011 7682586

Fax to email: 0867296536


P.O.Box 21925, Helderkruin, Roodepoort, 1733