Directors & Officers Insurance

Directors and Officers Indemnity insurance protects Directors and Officers for legal liability they may incur personally in managing a corporation.

Directors and Officers may be exposed to claims brought against them by:

  • Shareholders (ie. statutory derivative actions)
  • Employees (ie. claims for wrongful dismissal, harassment or wrongful failure to employ or promote)
  • Statutory bodies (ie. actions brought by the Australian Securities and Investments Commission involving alleged breaches of a director’s fiduciary duties or investigations commenced by WorkCover following a work incident)
  • Competitors (ie. allegations of conduct involving anti-competitive behaviour)
  • The Corporation itself (ie. actions brought by a liquidator on behalf of the company alleging insolvent trading)

A Directors and Officers policy will generally cover the following:

  • Representation costs where a Director or Officer is legally required to attend an inquiry or investigation in relation to the affairs of the corporation
  • Legal costs & expenses in the defence & investigation of a Directors & Officers claim
  • Any compensation required to be paid by the insured in order to dispose of a Directors & Officers claim

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