Directors & Officers

Directors & Officers

Against a legislative backdrop of increasing shareholder activism, strict compliance requirements for corporate governance, and ever more aggressive regulators, the risk of legal and personal liability being incurred by company directors and officers is at an all-time high.

Businesses operating in foreign jurisdictions are required to comply with the legal framework relevant to their overseas operations. Such compliance includes listing and filing requirements, rigorous market disclosure, and careful management of their professional relationships with employees, creditors, customers and suppliers.

Directors & Officers

Directors and officers are personally exposed to unlimited financial liability and the company and board of directors share the responsibility for ensuring they have the highest possible level of protection.

Liberty’s 02-22 Directors & Officers (D&O) Liability policy wording provides market-leading D&O protection. Our wording, together with our ability to offer limits of liability up to US$50 million, makes Liberty an attractive lead insurer for private, publicly listed or government-owned entities.

At a glance:

  • Limits of Liability up to US$50 million
  • Two Defence Select options in relation to the appointment of legal representation in the event of a Claim
  • Allocation Clause specifies the basis for allocation of partially covered matters and clarifies that, where Defence Costs also benefit a matter which is not covered or a non-insured party, Liberty will pay all common defence costs
  • Self-Report, Raid, Internal Inquiry and Inquiry (including industry wide inquiries) Costs & Expenses do not require an allegation of a wrongful act and are paid prior to final resolution of the matter
  • Directors Additional Limit of Liability available for all directors
  • Lifetime cover for former insured persons who retired or resigned during the policy period for reasons other than involuntary termination
  • Recoveries that are in excess of the costs and expenses incurred by Liberty in the recovery action will replenish the Limit of Liability
  • Fraud and dishonesty exclusion triggered only by a final adjudication
  • Provides cover for claims in the USA, including claims alleging Employment Wrongful Acts;
  • No late notification or penalty if the Insured is legally prohibited from notifying a Claim, Self-Report, Raid, Internal Inquiry or Inquiry but notifies within 30 days of being legally able to do so
  • Cover is provided for Asset & Liberty Expenses, Bail Bond & Civil Bond Expenses, Cost of Living Expenses, Court Attendance Costs, Extradition Costs, Fines & Penalties, Occupational Health & Safety Costs, Personal Taxation & Superannuation Liability, Public Relations and Reputation Protection Expenses, and Shareholder Derivative Investigation Costs
Find an Underwriter
Georgia Dodd - Underwriter, Professional & Financial Risks

Georgia Dodd

Underwriter, Professional & Financial Risks
T: +61 8 61889518

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Helen Brand - Vice President, Head of Strategy, Risk & Planning Casualty & Professional & Financial Risks & Queensland Branch Manager

Helen Brand

Vice President, Head of Strategy, Risk & Planning Casualty & Professional & Financial Risks & Queensland Branch Manager
T: +61 7 3235 8823

Email Profile

Jack Cox - Assistant Vice President, D&O Technical Manager, Professional & Financial Risks

Jack Cox

Assistant Vice President, D&O Technical Manager, Professional & Financial Risks
T: +61 2 8047 3372

Email Profile

Jack Dew - Assistant Underwriter, Professional & Financial Risks

Jack Dew

Assistant Underwriter, Professional & Financial Risks
T: +61 8 6188 9522

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Jamie Kennell-Webb - Senior Underwriter, Professional & Financial Risks

Jamie Kennell-Webb

Senior Underwriter, Professional & Financial Risks
T: +61 2 8298 5806

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Louise Austin - Underwriter, Professional & Financial Risks

Louise Austin

Underwriter, Professional & Financial Risks
T: +61 2 8047 3382

Email Profile

Meredith Lieu - Assistant Vice President, Australian D&O Commercial Portfolio Manager, Professional & Financial Risks

Meredith Lieu

Assistant Vice President, Australian D&O Commercial Portfolio Manager, Professional & Financial Risks
T: +61 3 9619 9813

Email Profile

Michael Mahlo - Senior Underwriter, Professional & Financial Risks

Michael Mahlo

Senior Underwriter, Professional & Financial Risks
T: +61 2 8298 5906

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Namik Turabi - Senior Underwriter, Professional & Financial Risks

Namik Turabi

Senior Underwriter, Professional & Financial Risks
T: +61 7 3235 8824

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Narjiss Oussalah - Underwriter, Professional & Financial Risks

Narjiss Oussalah

Underwriter, Professional & Financial Risks
T: +61 2 8047 3355

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Odile Cameron - Underwriter, Professional & Financial Risks

Odile Cameron

Underwriter, Professional & Financial Risks
T: +61 3 9619 9887

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Pierre Dagnee - Senior Underwriter, Australia D&O Mining & Resources Portfolio Manager

Pierre Dagnee

Senior Underwriter, Australia D&O Mining & Resources Portfolio Manager
T: +61 8 6188 9516

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Zeron Deng - Assistant Underwriter

Zeron Deng

Assistant Underwriter
T: +61 8 6188 9510

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Offering of Securities Insurance

Issuing and presenting a prospectus is a complex process for all involved. In this everchanging economic and regulatory landscape the representations made in a prospectus will be thoroughly scrutinised by both investors and regulators, with the potential of any claims made in connection with the prospectus brought years after the prospectus was first issued.


Liberty’s 06-23 Offering of Securities (OSI) policy wording provides bespoke coverage for offerings including cover for Directors & Officers, controlling or selling shareholders and the company itself, ringfencing the prospectus exposure away from a traditional Directors & Officers Liability policy. 

At a glance:

  • The policy contains a ‘Company Prospectus Liability’ insuring clause which provides cover to the company for any wrongful act in connection with the prospectus
  • Self-Report, Raid, and Inquiry Costs & Expenses paid in advance and available for insured persons and the company itself
  • The option for ‘Defence Select’ which allows for the choice of appointment of legal representation in the event of a claim
  • Allocation clause specifies the basis for allocation of partially covered matters and clarifies that, where Defence Costs also benefit a matter which is not covered or a non-insured party, Liberty will pay all common defence costs
  • Limits of Liability up to US$50 million and policy terms up to seven years
  • Multiple aspects of the offering process are covered under the policy including but not limited to discussions, negotiations, decisions, presentations, documents and any supplementary documents or amendments
  • No retroactive or continuity date 
     
Find an Underwriter
Georgia Dodd - Underwriter, Professional & Financial Risks

Georgia Dodd

Underwriter, Professional & Financial Risks
T: +61 8 61889518

Email Profile

Helen Brand - Vice President, Head of Strategy, Risk & Planning Casualty & Professional & Financial Risks & Queensland Branch Manager

Helen Brand

Vice President, Head of Strategy, Risk & Planning Casualty & Professional & Financial Risks & Queensland Branch Manager
T: +61 7 3235 8823

Email Profile

Jack Cox - Assistant Vice President, D&O Technical Manager, Professional & Financial Risks

Jack Cox

Assistant Vice President, D&O Technical Manager, Professional & Financial Risks
T: +61 2 8047 3372

Email Profile

Jack Dew - Assistant Underwriter, Professional & Financial Risks

Jack Dew

Assistant Underwriter, Professional & Financial Risks
T: +61 8 6188 9522

Email Profile

Jamie Kennell-Webb - Senior Underwriter, Professional & Financial Risks

Jamie Kennell-Webb

Senior Underwriter, Professional & Financial Risks
T: +61 2 8298 5806

Email Profile

Louise Austin - Underwriter, Professional & Financial Risks

Louise Austin

Underwriter, Professional & Financial Risks
T: +61 2 8047 3382

Email Profile

Meredith Lieu - Assistant Vice President, Australian D&O Commercial Portfolio Manager, Professional & Financial Risks

Meredith Lieu

Assistant Vice President, Australian D&O Commercial Portfolio Manager, Professional & Financial Risks
T: +61 3 9619 9813

Email Profile

Michael Mahlo - Senior Underwriter, Professional & Financial Risks

Michael Mahlo

Senior Underwriter, Professional & Financial Risks
T: +61 2 8298 5906

Email Profile

Namik Turabi - Senior Underwriter, Professional & Financial Risks

Namik Turabi

Senior Underwriter, Professional & Financial Risks
T: +61 7 3235 8824

Email Profile

Narjiss Oussalah - Underwriter, Professional & Financial Risks

Narjiss Oussalah

Underwriter, Professional & Financial Risks
T: +61 2 8047 3355

Email Profile

Odile Cameron - Underwriter, Professional & Financial Risks

Odile Cameron

Underwriter, Professional & Financial Risks
T: +61 3 9619 9887

Email Profile

Pierre Dagnee - Senior Underwriter, Australia D&O Mining & Resources Portfolio Manager

Pierre Dagnee

Senior Underwriter, Australia D&O Mining & Resources Portfolio Manager
T: +61 8 6188 9516

Email Profile

Zeron Deng - Assistant Underwriter

Zeron Deng

Assistant Underwriter
T: +61 8 6188 9510

Email Profile

D&O Side A Excess

Being a director on a listed entity attracts heightened exposure to litigation and class action risks. With no immediate changes to the legal environment to deter litigation funders from instigating class actions and eroding policy limits on a Directors and Officers (“D&O”) Liability policy, Liberty’s Side A Excess cover provides isolated protection solely for the directors and officers to protect their legal liability and personal assets.

At a glance:

  • Provides difference-in-conditions cover which may provide protection when the:
    • claim is not covered by the underlying corporate D&O policy;
    • corporate D&O insurer(s) is insolvent; or
    • corporate D&O policy is rescinded by the insurer(s)
  • Fills potential gaps in corporate D&O cover
  • Limits exhaustion peace of mind: a policy limit is set aside exclusively to cover claims made if the corporate D&O cover limit is depleted from paying previous claims.
     
Find an Underwriter
Georgia Dodd - Underwriter, Professional & Financial Risks

Georgia Dodd

Underwriter, Professional & Financial Risks
T: +61 8 61889518

Email Profile

Helen Brand - Vice President, Head of Strategy, Risk & Planning Casualty & Professional & Financial Risks & Queensland Branch Manager

Helen Brand

Vice President, Head of Strategy, Risk & Planning Casualty & Professional & Financial Risks & Queensland Branch Manager
T: +61 7 3235 8823

Email Profile

Jack Cox - Assistant Vice President, D&O Technical Manager, Professional & Financial Risks

Jack Cox

Assistant Vice President, D&O Technical Manager, Professional & Financial Risks
T: +61 2 8047 3372

Email Profile

Jack Dew - Assistant Underwriter, Professional & Financial Risks

Jack Dew

Assistant Underwriter, Professional & Financial Risks
T: +61 8 6188 9522

Email Profile

Jamie Kennell-Webb - Senior Underwriter, Professional & Financial Risks

Jamie Kennell-Webb

Senior Underwriter, Professional & Financial Risks
T: +61 2 8298 5806

Email Profile

Jerome Steyn - Assistant Vice President, PFR Manager - WA

Jerome Steyn

Assistant Vice President, PFR Manager - WA
T: +61 8 6188 9503

Email Profile

Louise Austin - Underwriter, Professional & Financial Risks

Louise Austin

Underwriter, Professional & Financial Risks
T: +61 2 8047 3382

Email Profile

Meredith Lieu - Assistant Vice President, Australian D&O Commercial Portfolio Manager, Professional & Financial Risks

Meredith Lieu

Assistant Vice President, Australian D&O Commercial Portfolio Manager, Professional & Financial Risks
T: +61 3 9619 9813

Email Profile

Namik Turabi - Senior Underwriter, Professional & Financial Risks

Namik Turabi

Senior Underwriter, Professional & Financial Risks
T: +61 7 3235 8824

Email Profile

Narjiss Oussalah - Underwriter, Professional & Financial Risks

Narjiss Oussalah

Underwriter, Professional & Financial Risks
T: +61 2 8047 3355

Email Profile

Odile Cameron - Underwriter, Professional & Financial Risks

Odile Cameron

Underwriter, Professional & Financial Risks
T: +61 3 9619 9887

Email Profile

Pierre Dagnee - Senior Underwriter, Australia D&O Mining & Resources Portfolio Manager

Pierre Dagnee

Senior Underwriter, Australia D&O Mining & Resources Portfolio Manager
T: +61 8 6188 9516

Email Profile

Zeron Deng - Assistant Underwriter

Zeron Deng

Assistant Underwriter
T: +61 8 6188 9510

Email Profile

Umbrella Defence Costs

The 2014 Bridgecorp ruling (regarding competing claims between defence costs and third party claims on a policy) has potential implications for Australian entities with exposure to New Zealand legislation. The ruling may not be confined to Directors & Officers Liability policies as the legislation can prevent the holder of any liability policy from accessing defence costs where the limit of liability is defence costs inclusive, which is the case for many liability policies, including professional liability policies.

Liberty‘s Umbrella Defence Costs policy is our unique response to this development.

At a glance:

  • Single overarching solution to insurance concerns
  • Protects one or more classes of liability
  • Provides a limit exclusively for defence costs.
Find an Underwriter
Christian Manning - Vice President, Head of Australia Professional & Financial Risks

Christian Manning

Vice President, Head of Australia Professional & Financial Risks
T: +61 3 9619 9803

Email Profile

Georgia Dodd - Underwriter, Professional & Financial Risks

Georgia Dodd

Underwriter, Professional & Financial Risks
T: +61 8 61889518

Email Profile

Helen Brand - Vice President, Head of Strategy, Risk & Planning Casualty & Professional & Financial Risks & Queensland Branch Manager

Helen Brand

Vice President, Head of Strategy, Risk & Planning Casualty & Professional & Financial Risks & Queensland Branch Manager
T: +61 7 3235 8823

Email Profile

Jack Dew - Assistant Underwriter, Professional & Financial Risks

Jack Dew

Assistant Underwriter, Professional & Financial Risks
T: +61 8 6188 9522

Email Profile

Jerome Steyn - Assistant Vice President, PFR Manager - WA

Jerome Steyn

Assistant Vice President, PFR Manager - WA
T: +61 8 6188 9503

Email Profile

Louise Austin - Underwriter, Professional & Financial Risks

Louise Austin

Underwriter, Professional & Financial Risks
T: +61 2 8047 3382

Email Profile

Meredith Lieu - Assistant Vice President, Australian D&O Commercial Portfolio Manager, Professional & Financial Risks

Meredith Lieu

Assistant Vice President, Australian D&O Commercial Portfolio Manager, Professional & Financial Risks
T: +61 3 9619 9813

Email Profile

Namik Turabi - Senior Underwriter, Professional & Financial Risks

Namik Turabi

Senior Underwriter, Professional & Financial Risks
T: +61 7 3235 8824

Email Profile

Narjiss Oussalah - Underwriter, Professional & Financial Risks

Narjiss Oussalah

Underwriter, Professional & Financial Risks
T: +61 2 8047 3355

Email Profile

Odile Cameron - Underwriter, Professional & Financial Risks

Odile Cameron

Underwriter, Professional & Financial Risks
T: +61 3 9619 9887

Email Profile

Zeron Deng - Assistant Underwriter

Zeron Deng

Assistant Underwriter
T: +61 8 6188 9510

Email Profile

Find a specialist

Find a Claims specialist
Alison Kerr - Assistant Vice President & Claims Manager, Professional & Financial Risks

Alison Kerr

Assistant Vice President & Claims Manager, Professional & Financial Risks
T: +61 2 8298 5956

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Angela Messih - Senior Claims Specialist & Tech Lead, Professional & Financial Risks

Angela Messih

Senior Claims Specialist & Tech Lead, Professional & Financial Risks
T: +61 2 8047 3325

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Connor Burdon-Bear - Senior Claims Specialist, Professional & Financial Risks

Connor Burdon-Bear

Senior Claims Specialist, Professional & Financial Risks
T: +61 3 9619 9882

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James Thomas - Assistant Vice President & Technical Claims Manager, Professional & Financial Risks, Asia Pacific

James Thomas

Assistant Vice President & Technical Claims Manager, Professional & Financial Risks, Asia Pacific
T: +61 2 8298 5937

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Jane Hattwich - Senior Claims Specialist, Professional & Financial Risks

Jane Hattwich

Senior Claims Specialist, Professional & Financial Risks
T: +61 3 9619 9867

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Jonathan Lee - Senior Claims Specialist, Professional & Financial Risks

Jonathan Lee

Senior Claims Specialist, Professional & Financial Risks
T: +61 7 3235 8843

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Maria Rasul - Claims Specialist, Professional & Financial Risks

Maria Rasul

Claims Specialist, Professional & Financial Risks
T: +61 2 8047 3397

Email

Rebecca Short - Senior Claims Specialist, Professional & Financial Risks

Rebecca Short

Senior Claims Specialist, Professional & Financial Risks
T: +61 2 8298 5938

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Robert Mercer - Senior Vice President & Head of Claims, Asia Pacific

Robert Mercer

Senior Vice President & Head of Claims, Asia Pacific
T: +61 2 8047 3317

Email Profile