Outside Board Cover (automatic for Not-For-Profit entities)
Retired Directors & Officers
Public Relations Costs
Assets & Extradition Costs
Advancement of Defence Costs
Continuous Cover (for Innocent Non-Disclosure)
Pollution Defence Costs
Civil Fines & Civil Penalties
Other Standard Inclusions
Reinstatement of Limit of Liability for Non-Executive Directors (equal to 25% of the aggregate limit of liability or AUD$1,000,000 – whichever is the smaller).
Defence Costs paid in addition to the Limit of Liability under Directors & Officers Liability and Company Reimbursement Insuring Clauses (equal to 10% of the aggregate Limit of Liability or AUD$200,000 – whichever is the smaller).
Statutory Liability (maximum sub-limit of AUD$1,000,000)
Comprehensive definition of ‘Director’ and ‘Officer’
Comprehensive definition of ‘Company’
Cover for damages and costs awarded against the Directors or Officers
Cover for Costs incurred in Investigations and Disciplinary proceedings
Comprehensive cover for ‘Not-for-Profit’ Outside Directorships
Cover for Subsidiaries
Run-off cover for Subsidiaries
Run-off cover for covered Outside Directorships
Cover for Liabilities faced by Spouses
Cover for Liabilities faced by Estates and Legal Representatives
Cover for Prior Acts (Retroactive Liability Cover)
Preservation of Right to Indemnity Clause
100% Lloyd’s of London Security
Local Claims Handling & Payment Authority
Directors sued by shareholders or creditors over allegedly misleading statements to the public as to the financial position of the company.
Regulatory authorities investigating and prosecuting Directors over the same statements.
Creditors and customers taking action against Directors for insolvent trading.
Directors being sued/prosecuted for breaches by the Company of OH&S legislation.
Directors being prosecuted for breaches of the Corporations Law.
A breach of a Directors or Officers duties under Chapter 2D of the Corporations Act resulting in fines and penalties of up to AUD$200,000 and the requirement to pay compensation.
Employees bring claims for wrongful termination of employment, demotion or refusal to promote.
Company being sued by an Employee or prospective Employee for discrimination or harassment.
Company being fined for breach of OH&S legislation.
Fraudulent or dishonest acts committed by an Employee that result in direct financial loss to the Company such as theft by an Employee of property, securities or money.
Retired Directors being sued for Wrongful Acts committed whilst a Director of the Company.
Costs and expenses incurred by a Director or Officer in preparing for attending an Inquiry.