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.
Wrongful acts such as:
Actual or alleged breach of duty
Breach of trust
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.
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
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.
CCI's Risksupport team is dedicated to helping you minimise risks. As a valued CCI client, we can help you create safe and secure workplaces, and protect your property and assets.
We've developed a range of Risksupport tools and resources to help you reduce the chances of accidents, injury or interruption to your valuable services.
Visit Risksupport Resources
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