We shall provide Indemnity Clause in respect of compensatory damages which the Insured or other parties appointed by the Insured shall become legally liable to pay in consequence of any actual or alleged neglect, error or omission by or on behalf of the Insured or those for whom the Insured is responsible in the conduct or execution of their Professional Activities and Duties as defined.
The indemnity granted shall extend:
- in the event of the death or legal incompetency of the Insured, to the estate, heirs, legal representatives or assignees of the Insured;
- to any legal representative of the Insured in the event of the bankruptcy or insolvency of the Insured;
to any person who was or is or may hereafter be a director, officer or Employee of the Insured and such consultants of the Insured in their business capacity in respect of liability arising out of the performance of the Insured Contract