Directors and officers liability
Increasing corporate governance and regulatory surveillance has resulted in growing expectations and responsibilities placed upon a business’s directors. Consequently, the personal assets of the director or board of directors are exposed to claims brought by shareholders, employees and creditors. Our policy can provide you with protection against investigation, defence and settlement costs should a claim arise.
The exposures directors and officers encounter include:
- Employees: actions alleging discrimination, harassment, employment contract breaches, defamation, wrongful discipline, etc,
- Creditors: alleging the director allowed trading to continue despite knowing the business could not make debt repayments,
- Competitors: claims relating to the Trade Practices Act resulting from misleading or deceptive behaviour, and
- Shareholders: alleging the director has mismanaged the operations and funds of a business.
If you would like to cover your business with directors and officers liability insurance, please contact us.