The insurer agrees:

1. to pay all LOSS that the DIRECTORS & OFFICERS shall become legally obligated to pay as a result of any CLAIM or CLAIMS made payable against them for a WRONGFUL ACT;
2. to pay all LOSS for which the CORPORATION has indemnified the DIRECTORS & OFFICERS as permitted by law, as a result of any CLAIM or CLAIMS made against them for a WRONGFUL ACT;
3. to defend any suit instituted in Canada against the DIRECTORS & OFFICERS seeking damages payable under the terms of the policy;
4. to reimburse the DIRECTORS & OFFICERS for the COSTS, CHARGES, AND EXPENSES incurred in defending actions, suits, for proceedings against the DIRECTORS & OFFICERS before Criminal Courts if the defense of such actions, suits or proceedings proves to be fully successful.

Coverage applies only to CLAIMS during the POLICY PERIOD and then only if first made against DIRECTORS & OFFICERS during the POLICY PERIOD provided none of the DIRECTORS & OFFICERS has at the effective date of the policy any prior knowledge of such CLAIM nor of any facts or circumstances which might give rise to a CLAIM.

1. Retention
   - $10,000.00 each director or officer (subject to aggregate $10,000.00)
   - $20,000.00 aggregate each loss under Corporate Indemnification By-Laws
2. Prior Pending Litigation Exclusion
3. Professional Liability Exclusion
4. Suits against the Insured to be taken within Canada

If you have any questions about your business insurance, please feel free to email us;
John, Dick or Carol.