A Professional Indemnity insurance policy covers a person and/or their company against claims made against them by a third party for financial compensation arising from a breach of their professional duty. Examples can include an insurance broker overlooking a particular risk exposure to his client's business and not arranging the appropriate insurance protection or an engineer designing a coal washing plant that does not perform to required specifications.

Under normal circumstances, officers, directors, managers, etc. do not have personal liability for lawful acts of the corporation. In addition, in Nevada statutes, the owners are not the "appropriate" party to a lawsuit. The company may also indemnify any officer, director, manager, etc. from personal liability.

A Directors & Officers' Liability (D&O) policy will cover any past, present of future director, officer or senior manager of a corporation.

A Directors & Officers’ Liability (D&O) insurance policy protects the directors, officers and senior managers of a corporation against loss they are legally liable to pay for claims made against them arising from allegations of a wrongful act in the conduct of their duties on behalf of the corporation.

Directors' & Officers' Liability insurance covers the individual directors' and officers' of a company for a wrongful act(s) committed by them in their respective roles within the organisation. The policy does not normally cover the company (or entity) itself other than to provide lawful reimbursement of legal defence costs incurred by the company in the defence of a claim against a director or officer.

Directors & Officers Liability (D&O) Insurance provides coverage resulting from any claim made during the Period of Insurance for any Wrongful Act in the Insured persons capacity as Director, Officer or Employee of the Company. D & O Liability Insurance is designed to help protect both the assets of the company and the personal assets of these individuals.

A PI policy will cover any sole trader, partnership or corporation that provides advice or services for a fee or some other benefit (e.g. commission). If the PI policy is taken out in the name of corporation the policy will also extend to cover the corporation’s directors and employees.

Generally, only one director and or officer has to be appointed with the Articles or Certificates of Incorporation. However, some states vary in these requirements, but usually require no more than three. Requirements for LLC's (Limited Liability Companies) vary by state.

Professionals that operate their own businesses need professional liability insurance in addition to an in-home business or business owners policy. This protects them against financial losses from lawsuits filed against them by their clients. Professionals are expected to have extensive technical knowledge or training in their particular area of expertise. They are also expected to perform the services for which they were hired, according to the standards of conduct in their profession.

Simply stated, the condo association directors make the major decisions about the property, and the condo association officers implement those decisions. For instance, the directors may meet to decide that the hallway cleaning service is no longer satisfactory and that a new provider needs to be found. One of the officers, typically the president, will then be responsible for gathering bids and bringing this information to the board.

Professional Indemnity (PI) insurance policy protects a professional against legal liability for claims arising out of advice or services provided to clients for a fee or for some other benefit (e.g. commission). PI policies cover claims made under common law (negligence) and for breach of statutes which govern a professional's activities (such as Trade Practices Act 1974 (Cth). No.

Generally executive officers and directors are "employees" and therefore are covered by the worker's compensation act.

Generally, all employees of the company, as legally defined, including corporate officers and directors, must be included in the policy unless they are the sole owners of the firm. In the case of sole owners, they may elect not to be covered. Several sections of the California Labor Code must be considered to answer this question. You should consult with your attorney, insurance agent or broker, or your carrier regarding the specifics of your situation.

Yes, just as businesses need to control property exposures, work place injuries and other risks inherent to business in general, there is also need to "manage" one’s employee benefit programs. The unprepared employer may find itself being sued for providing incorrect or misleading information to an unhappy employee.

The Institute has always wished to be regarded as the country's premier professional body for the freelance translator and interpreter. We continually strive to demonstrate that the use of an ITI member guarantees both quality and integrity of service. The Institute is now in the enviable position where members can take advantage of specially negotiated rates with a leading insurer, McParland Finn Ltd.

The extensions to the Trustee's Indemnity or Directors and Officers Liability Insurance cover each offer valuable protection if the organisation perceives there to be potential exposure. Unfortunately, employee theft is prevalent in today's society and the Fidelity extension covers this eventuality. Again, disputes with employees are becoming more regular and the cost of investigations and potential awards are increasing; the Employment Practices Liability extension protects against this.

Yes. Names and addresses are filed with the state and are therefore available to anyone. Nevada requires this filing annually. They do not require notification of intervening changes.

Normally our clients select Nominee Directors and Officers that are provided by Hallmark Bank & Trust Ltd. in order to maximize the tax efficiency of the international corporation. This also simplifies the transaction of business since only one instruction to Hallmark Bank & Trust Ltd. is required who then signs on behalf of the corporation. If individuals are selected as Directors and Officers: they must sign all contracts, etc.

The Chair of the Board of Addax Petroleum is Mr. Peter Dey. Addax Petroleum has an eight-member Board and the majority of Board is made up of independent members. The Chief Executive Officer of Addax Petroleum is Mr. Jean Claude Gandur. For a complete list of Addax Petroleum’s directors and officers and their biographies please refer to the Board of Directors.