Santam transacts exclusively through licensed insurance brokers. A completed proposal form, available in the Downloads section of this page, is preferred. In addition, we require:

• The most recent audited financial statements.
• Full prior claims history.

Directors and officers can face significant personal exposure when legal action is brought against them. Risks include:

• Personal liability: homes, vehicles, savings, pensions and other personal assets. 
• Family impact: spouses, heirs and estates may be named in lawsuits.
• High legal defence costs: without cover, these can be financially devastating.
• Asset freezes: may affect the ability to meet basic personal expenses such as housing, education, utilities and insurance.

D&O claims are typically brought for alleged wrongful acts and can be instituted by various stakeholders:

• Shareholders: Allegations related to accounting fraud, poor financial performance, breach of fiduciary duty, insider trading, M&A activity or bankruptcy.
• Employees: Claims may include wrongful termination, harassment, discrimination, whistle-blowing or disputes over contracts, benefits and promotions. 
• Competitors: Claims relating to anti-competitive conduct, IP infringement, business interference and contract breaches.
• Customers: Disputes involving fraud, debt recovery, breach of contract or refusal of credit. Other Parties claims can also come from liquidators, creditors, regulators or government bodies.

Exposure is not limited to company directors. Those at risk include: 

• Current and former directors and officers.
• Executives and non-executive directors such as the CEO, CFO, and Company Secretary. 
• Members of committees (audit, risk, remuneration, etc.).
• Employees in managerial or supervisory roles.
• Directors service on boards of a non-profit organisation or an associated entity at the behest of the company.