What does this type of insurance consist of?
This is a Civil Liability insurance that protects the assets of Directors and Senior Officials against claims for acts
negligent management in the development of their functions.
What is insured?
-Responsibility of the Administrator or Senior Manager
-Defense Expenses
-Legal Representation Expenses
-Extradition Expenses
-Advertising Expenses
-Risk Management Expenses
-Bails
-Claims for Labor Practices
-New Positions
-Administrative Sanctions
-Bankruptcy Liability of the Administrator or Senior Official
-Expenses of Constitution of the Bankruptcy Guarantee
-Subsidiary Tax Liability of the
-Administrator or Senior Manager
-Inspection Expenses in Defense Matters
-Competence
-Expenses for establishing the Guarantee to avoid
-Preventive Embargo
-Professional Disqualification of the Administrator or Senior Official
-Subsidiary responsibility for Safety
-Social of the Administrator or Senior Official
-Emergency Expenses
-Expenses of Deprivation of Assets
-Pollution
-Psychological Assistance Expenses
-Defense Expenditures on Prevention of
-Occupational hazards
-Defense Expenses in Homicide Claims
-Business (Corporate Manslaughter)
Additionally, you may have additional guarantees and/or services. Review the complete contents of the policy.
What is not insured?
You, unless expressly waived by the insurer, will not be insured if any of the events incorporated in the contract occur, among which we can highlight the following:
-Claims based on or derived from facts or circumstances known before the policy was contracted. Previous litigation.
-Intentional or malicious acts. Undue benefits.
-Fines, sanctions and non-compensatory damages except administrative sanctions as established in the policy.
-Personal injuries and material damage.
-Pollution except defense expenses and damages to the company or its shareholders as established in the policy.
-Professional responsibility.
-Damage resulting from war, terrorism, any illegal, illegitimate or malicious act.
-Radioactivity and nuclear risk.
-Asbestos.
-Claims presented outside the territorial scope established in the policy conditions.
-International sanctions.
Are there restrictions when it comes to coverage?
-The limit economic amounts that appear in the General and/or Particular Conditions.
-The Coverage period for each of the contracted guarantees will adjust to what is established in the Insurance Contract.
-Deductible amount detailed in the policy.
-The restrictions and limitations of each contracted coverage specified in the General and Particular Contracting Conditions.
Where am I covered?
Everyone, excluding the United States and/or Canada
What are my obligations?
– Pay the price of the insurance.
-Communicate to the insurer:
The occurrence of the incident within the deadlines established in the General Conditions.
Detailed information about the incident within the deadlines established in the General Conditions.
The modification of your personal data.
Circumstances that aggravate the risk and are of such a nature that if they had been known to him at the time of receipt of the contract, he would either not have entered into it or would have entered into it under more burdensome conditions.
– Carry out reasonable actions to prevent and reduce the consequences of the accident.
-Provide the documentation and information required by the Insurer to determine and make the payment of the compensation established in the General and Specific Contracting Conditions.
When and how do I have to make payments?
The first payment must be made when contracting the insurance and subsequent payments on the corresponding termination date, with the
frequency and agreed means of payment.
When does coverage start and end?
The contract begins and ends at the times and dates established in the Specific Conditions.
The insurance will be renewed annually automatically, unless you object to the renewal by means of a notification
written address to the Insurer one month in advance of the termination date established in its Specific Conditions, as well
as in the event that the Insurance entity opposes its extension, notifying you at least two months in advance.
prior to the conclusion of the current period. This extension will not be applicable to contracts with a duration of less than one year.
The automatic tacit extension is not applicable if the insurance period is for one year and cannot be extended.
How can I terminate the contract?
The insurance will be renewed annually automatically, unless you object to the renewal by means of a notification
written address to the Insurer one month in advance of the termination date established in its Specific Conditions, as well
as in the event that the Insurance entity opposes its extension, notifying you at least two months in advance.
prior to the conclusion of the current period. This extension will not be applicable to contracts with a duration of less than one year.
The automatic tacit extension is not applicable if the insurance period is for one year and cannot be extended.
