Provision of directors and officers (d&o) liability insurance cover for merseta

Primary contact: Prince Sambo, email: [email protected], phone: 010 219 3373. Underwriter contact: A C and E PI & Liability Underwriting Managers (Pty) Ltd, phone: 011 615 7529, fax: 011 615 9360, address: 7th Floor Office Tower, Bedford Centre, Smith Street, Bedfordview, P O Box 752189, Gardenview, 2047. Website: www.engineeringace.co.za. Managing Director: Anne-Marie Fourie.

Submit the completed Directors and Officers Liability Insurance Proposal Form. Required returnables: (1) Fully answered proposal form with all applicable questions completed accurately. (2) Latest annual financial statements of the applicant/company. (3) Additional sheets if more space is needed for answers. Disqualification risk: Failure to disclose material information or incomplete answers may result in claim repudiation. Note: Submission does not bind the proposer or insurers to complete the insurance. All communication must be channelled through a licensed intermediary (Broker) as per SAUMA Code of Conduct.

Evaluation is based on: (1) Legal registration: Applicant must be a legally registered entity with valid company registration and VAT number (if applicable). (2) Completeness of information: Full details of directors/officers to be covered must be provided. (3) Financial disclosure: Latest annual financial statements, revenue, and assets for the applicant and all subsidiaries must be submitted. (4) Insurance history: Disclosure of any current or previous D&O liability insurance, including limits, premiums, retroactive dates, policy periods, and reasons for cancellation (if applicable). (5) Claims history: Declaration of any past or pending claims or circumstances that may lead to claims. (6) Broker requirement: Must engage with the underwriter exclusively through a licensed broker, as per SAUMA regulations.

Scope: Provision of Directors and Officers (D&O) Liability Insurance Cover for merSETA. Policy basis: Claims Made (covers claims first made against the insured and notified during the policy period). Exclusions: (1) Events prior to the retroactive date. (2) Claims notified or arising from facts/circumstances in previous policies or proposal forms. (3) Claims made/threatened prior to policy commencement. (4) Known facts/circumstances with potential to give rise to a claim. Coverage details: Current limit of indemnity for merSETA is R10 Million. Optional: Outside directorship coverage (specify director and entity names if required).

Provide latest annual financial statements as part of the proposal. Specify desired limit of indemnity (e.g., R10 Million). Disclose current premium, retroactive date, and policy period if previously insured. Include revenue and assets of the applicant/company and all subsidiaries (if applicable).

Compliance with POPIA for data handling. Must comply with SAUMA Code of Conduct: All communication must be through an intermediary (Broker). Insurer (A C and E PI & Liability Underwriting Managers) is a licensed Financial Service Provider (FSP 45553).