The insured persons under this insurance are:

Members of the management board, members of the supervisory board and other employees of the joint-stock company who have the right to represent the company, for damage caused by their acts or omissions:

• The company;
• Its shareholders;
• Third parties.

The joint-stock company (capital company), in respect of the compensation it is obliged to pay to its officers by law or contract if these persons, acting in the interests of the company, suffer losses as a result of claims brought against them by third parties.

Thus, the insurance covers the liability of officers and employees with the right to represent the company for possible losses caused by acts or omissions in the performance of their duties, as well as losses that the company is obliged to indemnify its officers under applicable law or contractual obligations.

What does insurance cover?

• Losses related to errors due to incompetence, carelessness, negligence.
• Losses due to providing incomplete or erroneous information to investors, shareholders, government agencies.
• Losses caused by violations of an officer's authority or laws under the capital company's charter or labor contracts, including administrative fines.
• Losses due to breaches of confidentiality and defamation against individuals or legal entities.
• Losses caused by violations of labor relations.
• Legal and court costs in civil, administrative and criminal cases related to the performance of job duties.
• Examination and investigation costs.
• Costs of restoring documents and information.
• Costs related to the recovery of the insured's property.
• Necessary expenses in cases of restriction of the right to use personal property.
• Material losses of children and spouses as a result of claims against the insured.

Thus, the insurance covers a wide range of losses and expenses related to the performance of official duties, possible errors and violations on the part of the insured.

Factors affecting the cost of the policy:

• Amount of coverage (limit of liability).
• Established sublimits for certain types of losses.
• Type of the company's activity.
• Financial condition of the company.
• The company's organizational structure and number of employees.
• Work experience.
• Types of losses included in the policy coverage.
• Amount of deductible on the policy.
• History of previous losses.