Costs and expenses of litigation too will be paid within the Limit provided in the policy.

This insurance applies to above that takes place within the address specified in the Schedule and usually subject to Sri Lankan jurisdiction. Any changes to this must be specifically requested from and agreed.

Standard Exceptions
- War, invasion, martial law, strike, riot and civil commotion and terrorism
- Any liability of the insured which attaches by virtue of an agreement but which would not have attached   in the absence of such agreement
- Any sum which the Insured would have been entitled to recover from any part but for an agreement   between the Insured and such party
- Liability arising out of deliberate act or omission
- Liability to persons under contract with the Insured
- Liability in respect of loss of or damage to property belonging to the Insured or his employees, property   which is leased, rented, hired or lent to the Insured or property under the care, custody or control of the   Insured or his employees.
- Boiler or pressure vessel explosion
- Damage to underground facilities
- Damage due to vibration, removal or weakening of support
- Liability arising from vehicles that that are designed and licensed for general road use
- Liability arising from or in connection with any vessel, craft, aircraft or locomotive, any lift, elevator,   escalators, hoists or crane not specified in the Policy Schedule
- Accidents due to unsuitability of berth, anchoring, dock or mooring
- Property worked upon (repairs, alterations etc.)
- Pollution of air, water or soil and other atmospheric disturbances
- Defective sanitary arrangements
- Liability in respect of any breach of professional duty arising out of the exercise of any calling or vocation
- Nuclear, biological and chemical attack

Product Liability

Covers liability to third parties (consumers), where the Insured becomes legally liable to pay damages consequent to consumption a product manufactured or marketed by the Insured due to:
1) accidental bodily injury to or illness contracted by any person;
2) accidental loss of or damage to property.

Costs and expenses of litigation too will be paid within the Limit provided in the policy.

This insurance applies to above that takes place within the address specified in the Schedule and usually subject to Sri Lankan jurisdiction. Where exports to other countries are involved, Jurisdiction could be changed to read as WORLDWIDE or WORLDWIDE EXCLUDING NORTH AMERICA (USA and CANADA).

Standard Exceptions
- Bodily injury sustained by an employee during his course of employment
- Liability in respect of loss of or damage to property belonging to the Insured or his employees, property   which is leased, rented, hired or lent to the Insured or property under the care, custody or control of the   Insured or his employees.
- Slander
- Infringement of plans, copyright patent, trade name, trade mark or registered design
- Products sold, supplied, repaired, altered, treated or installed by the Insured on terms less favourable to   the Insured than the ordinary process of law governing their sale, supply, repair, alteration, treatment or   installation.
- Bodily injury or property damage due to seepage, pollution or contamination of air, water or soil and   other atmospheric disturbances, and cost of cleaning up following such situations
- Failure of a product or part thereof to perform the function for which it was intended
- Claims made as a result of an accident which happened prior or retroactive date
- Products relating to watercraft, aircraft or other aerial device
- Expenditure incurred in doing or re-doing making-good any work which the Insured is contracted to do
- Insured will not be indemnified against loss or damage o products, replacement costs of the products,   make any refund of the payment received for the product
- War, invasion, martial law, strike, riot and civil commotion and terrorism
- Any liability of the insured which attaches by virtue of an agreement but which would not have attached   in the absence of such agreement
- Any sum which the Insured would have been entitled to recover from any part but for an agreement   between the Insured and such party
- Liability arising out of deliberate act or omission
- Nuclear, biological and chemical attack


Director’s & Officer’s Liability Insurance

Directors & Officers (D&O) Liability Insurance protects company management from damages and usually painful legal fees, payable from their own personal assets, following a claim made against them for their personal liability for wrongful acts they committed under applicable corporate and/or employment laws.

In late 2001 and early 2002 the insurance markets were forced through massive change, stemming from increased severity and frequency of losses, mainly due to the spate of corporate governance disasters in the USA. The impact on Asian companies, especially on those with securities listed in the USA, was significant.

We work closely with companies to sell the benefits of their risk profile and corporate governance strong points to the reinsurance markets. We also spend time understanding current and future development plans to ensure that we preserve the coverage in crucial areas.

D&O Insurance will be increasingly important in Asia, particularly as companies appreciate the importance of providing adequate cover to comfort and attract directors. There will be a growing focus on this as companies compete with increasing severity for the services of good directors.

Who is covered?
Parent company and subsidiary companies: Past, present and future directors (including shadow directors), officers, and other individuals with personal liability for management decisions, who committed a wrongful act whilst performing managerial duties. The policy can be extended to cover employees for employment related claims, as well as outside directors. Divested/new subsidiary companies should be covered for Claims made against wrongful acts committed during the time when a divested/created/acquired company was a subsidiary company.

What is covered?
The insurer pays on behalf of the insured for the latter's legal liability for damages plus costs, charges and expenses, as a consequence of a claim made against, and based on a wrongful act committed by an insured person.

What is excluded?
• Bodily injuries/Property damages
• Criminal acts, final adjudication
• Uninsurable matters
• Pollution

When does the coverage apply?
The D&O Liability insurance is triggered by claims made against the insured person during the policy period based on a wrongful act committed at any time (see section 'Who is Covered', specifically on new/sold subsidiaries), provided that such claims are reported within the agreed reporting provisions in the policy. The coverage does not apply to claims or circumstances which could reasonably lead to a claim, of which the insured had knowledge of or had reported to another insurer prior to the first inception date of the policy.