Directors and Officers Indemnity insurance protects Directors & Officers for legal liability they may incur personally in managing a corporation. Directors & Officers may be exposed to claims brought against them by:
A Directors & Officers policy will generally cover the following in relation to the above actions:
You should consider Director & Officers Insurance if you sit on the board of an incorporated entity. This includes private companies, incorporated associations, public companies and co-operatives.
Not all liabilities incurred by a Director or Officer an indemnifiable by the company itself. For example a company is not lawfully able to indemnify a Director or Officer for a liability (other than for legal costs) incurred under a compensation order under s.1317H of the Corporation Act 2001. A Directors & Officers insurance policy does not have the same indemnity restrictions and may afford cover where the company cannot.
A Director of Officer may still be exposed to claims even if it is found the Director or Officer did indeed act honestly. The fiduciary duty of a Director or Officer to act in good faith and in the best interests of the company creates a higher benchmark than simply acting honestly.
To obtain a quotation or further information on Directors and Officers Insurance you can contact one of our experienced insurance brokers on 1300 503 503.
Alternatively, click here to complete a Directors and Officers Insurance quote request online.
Budget cuts to FWBC met with disappointment... read more
Take note of weather warnings... read more
Master Builders forecast a mixed future... read more
The construction of the Moorebank Intermodal Terminal... read more
Why cities are an essential part of securing Australia's future... read more