Director's Officers Insurance

Private companies, associations or not-for-profit organisations and their management teams face a range of exposures in today’s litigious environment. Actions and disputes can come from employees, customers, competitors, regulatory bodies and others and unfortunately it is impossible to anticipate and avoid every risk that may eventuate.

Management Liability insurance provides protection for your company and management team under ‘one’ policy, and it won’t break the bank. In fact, premiums start from less than $1,000 per annum for up to $1m aggregate cover. Examples of exposures able to be covered (under one policy) are outlined below:

Management (Director’s & Officer’s) Liability and Corporate (Organisation) Liability

Board members and officers make decisions they believe are in the best interests of the company, however not everyone may see it that way. Your customers, clients, investors, competitors and even government regulators can sue over the actions and decisions they make. The cover extends to actions against directors and officers (including managers, supervisors and other employees) and defence costs in respect of an official investigation or inquiry, occupational health and safety matters (including workplace injuries and deaths) and pollution defence costs.

Employment Practices Liability
You may have procedures in place that you believe will ensure employees are treated fairly at all times, but issues may arise that will see those tested, leaving the company, board members and officers requiring defence against such actions.

Crime Protection
Regardless of how trustworthy employees are, there remains a risk of funds being embezzled or stolen over prolonged periods. This risk is amplified if any employees have direct access to funds or assets, whether it be physically or electronically.

Trustees Liability
Decisions made in relation to investing funds on behalf of employees may be questioned, even after employment has ceased. This may lead to legal action in future years which at the very least may incur costly defence.

Statutory Liability (Fines & Penalties)
Government bodies that regulate companies and/or your industry have the power to impose fines where there are breaches of statutory requirements. Ensuring you are protected should this occur is vital in the conduct of your business.

Internet Exposures

With the proliferation of online solutions and social media it is not always simple to ensure that every item used meets copyright and privacy standards or does not give cause for defamation action to be taken. Defending such action can be timeconsuming and expensive.

Tax Audit
Indemnifies your organisation up to the sum insured in respect of its liability to pay the fees of an accountant in connection
with a Statutory tax audit of your business.

Call your EBM Account Manager or 1300 755 112) to obtain a firm quotation for your business.