NCBA GROUP

Our comprehensive D&O Policy is designed to protect directors and officers from claims which may arise from decisions and actions taken when performing their official duties. 

Who does our cover protect? 

Compared to other market solutions, our policy has one of the broadest definition of insureds.

    1. Individual insured persons who may include

    • Past, present and future directors,

    • Executive officers and managers

    • All employees

    • Trustees and volunteers for not for profit organizations

    • Any officers as recognized by relevant Acts such as Data officers, Public Secretaries, Risk Officers, Compliance officers, etc.

The policy also protects the spouses, administrators and executors of the above insured’s estate if they die or are declared bankrupt.

    1. The company/organization upon request.

What do we pay? 

    1. Defense Costs: The costs of defending against  law suit, including regulatory investigations.

    1. Damages/ Financial Loss: The settlements an insured is legally liable to pay as a result of a claim. We also cover civil fines and civil penalties provided the insured was grossly negligent or deliberate in their acts and decisions.

Our policy structure

We offer one of the most comprehensive D&O insurance policy in the market, including side C coverage as detailed below:

SIDE A: This section protects the individual insureds when the company cannot indemnify them. This could be due to the bankruptcy of the company, prohibition by relevant laws or because the company’s articles of association deny them a right to indemnity.

SIDE B: This provides reimbursement to the company when it indemnifies its directors and officers, thus protecting the company’s balance sheet.

SIDE C: For listed entities, this section affords coverage to the company for securities claims brought against it. Private companies may be able to obtain broader entity coverage. This cover section is offered on request.

Standard Covers and extensions

    • Additional limit to cover non-executive directors where all their primary policies are exhausted.

    • Automatic cover for new subsidiaries.

    • Employment Practices Liability

    • Lifetime Run-Off cover for retired insureds

    • Reputation protection/public relations expenses

    • Corporate manslaughter, etc

Please refer to the policy document for a full description and definition of these extensions.

Why NCBA Insurance Company Limited?

The corporate environment in Kenya is evolving dramatically with frequent promulgation of different laws and regulations. As the number and type of risks such as financial, technological, operational and strategic risks continue to emerge, the role of directors and officers in managing these risks becomes critical. Consequently, this signifies a remarkable increase in the personal liability risk facing directors and officers owing to their assumed roles and responsibilities.

Our policy is designed to responds to such exposures and enhances the safeguards provided to individual directors and officers and the companies they serve from all angles

Compared to other market solutions, our policy has one of the broadest definition of insureds.

    1. Individual insured persons who may include

    • Past, present and future directors,

    • Executive officers and managers

    • All employees

    • Trustees and volunteers for not for profit organizations

    • Any officers as recognized by relevant Acts such as Data officers, Public Secretaries, Risk Officers, Compliance officers, etc.

The policy also protects the spouses, administrators and executors of the above insured’s estate if they die or are declared bankrupt.

    1. The company/organization upon request.

What do we pay? 

    1. Defense Costs: The costs of defending against  law suit, including regulatory investigations.

    1. Damages/ Financial Loss: The settlements an insured is legally liable to pay as a result of a claim. We also cover civil fines and civil penalties provided the insured was grossly negligent or deliberate in their acts and decisions.

We offer one of the most comprehensive D&O insurance policy in the market, including side C coverage as detailed below:

SIDE A: This section protects the individual insureds when the company cannot indemnify them. This could be due to the bankruptcy of the company, prohibition by relevant laws or because the company’s articles of association deny them a right to indemnity.

SIDE B: This provides reimbursement to the company when it indemnifies its directors and officers, thus protecting the company’s balance sheet.

SIDE C: For listed entities, this section affords coverage to the company for securities claims brought against it. Private companies may be able to obtain broader entity coverage. This cover section is offered on request.

Standard Covers and extensions

    • Additional limit to cover non-executive directors where all their primary policies are exhausted.

    • Automatic cover for new subsidiaries.

    • Employment Practices Liability

    • Lifetime Run-Off cover for retired insureds

    • Reputation protection/public relations expenses

    • Corporate manslaughter, etc

Please refer to the policy document for a full description and definition of these extensions.

The corporate environment in Kenya is evolving dramatically with frequent promulgation of different laws and regulations. As the number and type of risks such as financial, technological, operational and strategic risks continue to emerge, the role of directors and officers in managing these risks becomes critical. Consequently, this signifies a remarkable increase in the personal liability risk facing directors and officers owing to their assumed roles and responsibilities.

Our policy is designed to responds to such exposures and enhances the safeguards provided to individual directors and officers and the companies they serve from all angles

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