Directors and officers liability insurance (D&O insurance) protects the insured persons against possible third-party claims that may arise from unintended wrongdoings, and provides reimbursement of possible expenses incurred by Metalloinvest by covering the costs and damages of the insured persons.
The insurance covers the defence costs for the insured persons and related costs, as well as compensation for proven damages subject to recovery which were caused by the insured persons, when such damage has been proved and is subject to recovery.
Metalloinvest’s D&O insurance is provided by SOGAZ INSURANCE, Russia’s largest insurer, selected on a competitive basis.
The risks are reinsured internationally by major insurers with leading positions in terms of portfolio volume and experience in adjusting D&O claims both in Russia and globally, such as Allianz, AIG, ACE, Zurich, QBE, and Liberty.
The Company’s policy terms were developed jointly with Allianz, a reinsurance leader, providing optimal coverage and taking all Metalloinvest’s insurance requirements into account, with a total liability limit of USD 150 million.