Club Management Liability

DIRECTORS AND OFFICERS LIABILITY

What does the Directors and Officers section cover?

This section covers the Directors and Officers of the club or association for claims made against them resulting from any Wrongful Act committed in their respective capacities. Wrongful Act includes any error, misstatement, misleading statement, act, omission, neglect or breach of duty.

Coverage also extends to include

• Club Liability – which provides cover for Wrongful Acts committed by the Insured Organisation.
• Company Reimbursement – which provides cover for all costs for which the Club or Association grants indemnification to an Insured person as permitted by law, for which the Insured Person is legally obligated to pay on account of any Directors and Officers claim first made against the individual.
• Investigative Representation Expenses which provides coverage for the fees the Organisation incurs for representation in any Formal Investigations including administrative, regulatory or investigative inquiry.

What are the Directors and Officers section cover limits?

Cover	Limits of Cover and Deductibles
Directors and Officers Liability (A) Company Reimbursement (B)	$5,000,000 each loss any one period of insurance (A) Nil Deductible (B) Nil Deductible
Club Liability (C)	$5,000,000 each loss any one period of insurance (C) $5,000 Deductible
Investigation Representation (D)	$10,000 each loss any one period of insurance (D) $2,500 Deductible

Note: The limits in (C) and (D) above are sub-limits of liability and are part of, and not in addition to, the limit of liability in (A) and (B). They further reduce, and do not increase, the limit of liability in (A) and (B). Limits of liability and any deductible amounts are reduced or exhausted by Defence Costs.

The Maximum Aggregate Limit of Liability in this Coverage Section is $5,000,000 any one period of insurance.

The Maximum Limit of Liability for all Liability Coverage (i.e. Directors & Officers and Employment Practices Liability) is $5,000,000 any one period of insurance.

Where are you covered under the Directors and Officers section?

This section protects against liabilities anywhere in the world except for the USA.

What are some of the major exclusions under the Directors and Officers section of the policy?

The following exclusions could affect you:

• Bodily injury or damage or destruction of tangible property – there is no cover under this policy for bodily injury, sickness, disease, death or damage or destruction of tangible property (insured under General Liability policy);
• Contractual Liability – any claim in consequence of liability under a written or oral contract or agreement;
• Fraud – any claim in consequence of a deliberate fraudulent act or omission as per the policy;
• Insolvency – Wrongful Acts based upon financial impairment of the Insured organisation; and
• Prior and pending litigation (refer to dates shown in the policy schedule).
• Insured v Insured – action brought or maintained against any Insured Person, by or on behalf of an Insured Organisation. Refer to Policy Wording for further information.

This is a summary of cover only and does not purport to contain all policy terms, conditions and exclusions. Please refer to the policy wording for full details.

Please note that in some cases the cover available is broader than the cover outlined in the Standard Policy Wording. Please contact JLT Sport for further details.