What is Directors & Officers Liability Insurance?
Directors & Officers Liability Insurance covers risk exposure for company and board directors for breaches or situations that can result in personal liability and expense.
Is Directors & Officers Insurance necessary?
Directors & Officers Liability Insurance (D&O) is one of the least understood types of insurance, yet one of the most important. Australia is home to some of the world's largest Directors & Officers Liability Insurance claims, and the breadth of risk exposure for company directors and officers is becoming more complex and there is closer scrutiny from both internal and external stakeholders on general conduct.
Most recently, cyber attacks have become the nemesis of many Directors, with responsibility shifting between being an 'IT issue' to being regarded as a critical aspect of corporate governance. Mandatory breach reporting further emphasises cyber's position at the top of most board room agendas, with maximum fines for companies set at $1.85m and $360,000 for individuals.
Our insurance brokers' approach to risk management helps you to achieve the right level of Directors & Officers liability insurance cover. We take the time to gain a deep understanding of your business and industry, and work in partnership with your team to implement a robust risk management program that protects you now and into the future.
