Protect your directors and officers for claims made against them

Directors & Officers Liability Insurance can indemnify your directors and officers for claims made against them if they commit, or it is alleged they have committed, a wrongful act.

Employees, customers, competitors, shareholders, creditors, the Australian Competition and Consumer Commission and the Commissioner for Taxation can all bring actions against your directors and officers.

What you're covered for:

Wrongful acts such as:

• Actual or alleged breach of duty

• Breach of trust

• Negligence

• Error

• Misstatement

• Misleading statement(s)

• Omissions

• Breach of warranty of authority

• Other acts wrongfully done or wrongly attempted in your capacity as a director or officer

This policy provides indemnity for directors and officers, and for your organisation for reimbursement of payments it makes in respect of claims against directors and officers.

It also covers legal costs for the successful defence of prosecutions of directors or officers; legal costs for attendance at investigations and defence costs for breach of Workplace Health & Safety (WHS) Law.

Features:

• Limit of Indemnity up to $20,000,000

• Advance payment of defence costs

• Indemnity for estates, heirs, legal representatives or assigns of deceased, incompetent or insolvent directors and officers

• Claims against spouses of directors and officers

• Outside directorships in non-profit organisations

• Expenses for public relations or media advisors in the event of a crisis

• Civil or bail bond expenses

• Deprivation of assets expenses

How does Directors & Officers Liability Insurance work?

Directors & Officers Liability Insurance in action

A volunteer at an aged care facility makes a complaint to the Victorian Equal Opportunity & Human Rights Commission alleging she was victimised by an officer on account of her race.

The complaint is dismissed and the officer cleared of any wrongdoing, however, legal costs in defence of the allegation amount to $83,000.

Because Directors & Officers Liability Insurance is in place, CCI covers the legal expenses.