Directors & Officers Insurance

Cover for directors and senior managers

Cover Built for the Way You Work

Directors and Officers Insurance (often called “D&O”) protects the personal assets of corporate directors and officers along with their spouses, in the event they are personally liable for wrongdoing in managing a company.

COVER FOR

Individual defence costs

Damages and settlements

Investigation and pre investigation costs

Individual assets and liability costs

What is Directors and Officers Insurance?

Covered Parties: Business Owners, Directors and Officers

Directors and Offices Insurance protects your company’s past present and future directors, officers and managers against claims of wrongful acts, such as misrepresentation or breach of fiduciary duty. even if you aren’t ultimately found to be liable, the cost of defending yourself can still be significant.

If a third party makes a claim against the business, they might name certain directors. This might leave the directors open to personal losses. Therefore, their income, personal assets might come under threat. D&O coverage can therefore help them cover themselves should they have to make personal remittance to affected parties.

We recommend, as member of any Board, that you clarify what your responsibilities will be and check the level of insurance protection in place. It will ensure that you protect yourself and your assets from a liability claim arising from all alleged wrongful act.

KEY BENEFITS

Cover for past, present and future directors

Defence costs even if you aren’t found to be liable

Directors and Officers personal assets are protected

Cover for damages and compensation awarded against a director

Why do you need this policy?

Here is an example:

A worker operating an excavator accidentally dug into an electrical cable and was permanently injured and unable to work again. It was alleged that his Employer had breached various sections of the Work Health and Safety Act. The Employer strenuously defended the action, and the matter was subsequently discontinued.

They did however incurred defence costs of over $200,000 that were covered by their Directors and Officers Insurance policy.