Civil liability for the Members of the Board of Directors and the Management
Civil liability covers management bodies and employees of the Company and all the Group Subsidiaries according to the insurance contract signed with SOGAZ JSC in 2017 and approved by the decision of the Annual General Shareholders Meeting on 22 June 2017.
The insurance contract is signed to cover all possible risks in case of harm inflicted to third parties for the period from 10 July 2017 to 10 July 2020 with the retrospective risk coverage from 10 July 2006.
The contract liability limit is USD 150 mln.
Additional limits of liability:
- for all independent directors – USD 6 mln, and separately for each independent director – USD 1 mln;
- for protection in case of environmental pollution – USD 2.5 mln, and in the sphere of environmental management – USD 5 mln.