What could be the reasons for a company to get refusal for indemnity payment?

What could be the reasons for a company to get refusal for indemnity payment?

Insurance coverage is provided for any claims with any causes, exclusive of the ones that are evidently excluded. The wording for the exclusions is one of the key issues to be covered at contractual phase. 

Exclusion examples:
- exclusion of active claims; 
- exclusion of claims from major shareholders;
- exclusion of claims due to the use of insider.

Information;
- exclusion of claims, laid due to the publishing of incorrect financial reporting by the Insured$ 
- exclusion of claims, dealing with bankruptcy or insolvency of a company;
- exclusion of claims, dealing with ‘unfair’ or deliberate actions of the director.