Directors’ and Officers’ Liability Insurance

Since 2009, the Company has been purchasing liability insurance policies for the members of the Board of Directors and the Company’s management on an annual basis. Insurance provides financial protection for the Company, its Directors and managers against potential third party lawsuits arising out of accidental and/or erroneous actions of the officers.

The D&O policy covers legal costs incurred by the Directors in court and financial expenses arising from any claims lodged against Directors in connection with the performance of their responsibilities.

The Company selects the insurer through a tender procedure, with the Nominations and Remuneration Committee approving the tender terms.

In 2018, the Company concluded the liability insurance contract for Directors, officers and companies between TransContainer and Ingosstrakh Insurance Company, effective from 7 July 2018 to 6 July 2019.

The insured amount (liability limit) is USD 100 mln with worldwide coverage.

TransContainer’s D&O policy terms and conditions are in line with best domestic and international D&O liability insurance practices.

TransContainer’s D&O Policy Terms and Conditions in 2011–2019, USD
Item 2011 2012 2013 2014 2015 2016–2018 2018–2019
Insurance premium 142,764.30 139,872.27 132,700.00 72,000.00 89,000.00 111,000.00 (for 18 months) 73,000.00 (for 12 months)
The insured amount (liability limit) 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000