SMME Directors & Officers Liability Cover

CIB Insurance has launched the SMME Directors and Officers cover as part of its commercial offering. The Directors liability cover is the first policy designed to cater for the New South African Companies Act as it addresses the personal liability needs of directors and managers.

This add-on product provides directors with protection against personal liability and the basic features include the following:
• Direct personal liability (nil excess)
• Company indemnification (nil excess)
• Defence and litigation expenses
• Directors employment related suits
• Advancement of costs for non-indemnifiable events

Automatic Extensions include:
• Estates heirs and legal representatives liability
• Defamation
• Coverage for newly created or acquired subsidiaries
• Investigation and enquiry costs

Please note that this is not a stand alone product and must be added onto a commercial policy.

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For more information contact your broker consultant on 011 455 5101.