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
Brad Harvey - Senior Underwriter, Professional & Financial Risks

Brad Harvey

Senior Underwriter, Professional & Financial Risks
T: +61 3 9619 9865

Email

Ian Balfe - Underwriter, Professional & Financial Risks

Ian Balfe

Underwriter, Professional & Financial Risks
T: +61 8 6188 9507

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Jack Chia - Senior Underwriter, Professional & Financial Risks

Jack Chia

Senior Underwriter, Professional & Financial Risks
T: +61 8 6188 9504

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Jack Cox - D&O Technical Manager

Jack Cox

D&O Technical Manager
T: +61 2 8047 3372

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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

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Meredith Lieu - PFR Portfolio Manager, Commercial D&O

Meredith Lieu

PFR Portfolio Manager, Commercial D&O
T: +61 3 9619 9813

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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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Pierre Dagnee - Underwriter, Professional & Financial Risks

Pierre Dagnee

Underwriter, Professional & Financial Risks
T: +61 8 6188 9516

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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
Brad Harvey - Senior Underwriter, Professional & Financial Risks

Brad Harvey

Senior Underwriter, Professional & Financial Risks
T: +61 3 9619 9865

Email

Helen Brand - Assistant Vice President – Professional & Financial Risks & Queensland Branch Manager

Helen Brand

Assistant Vice President – Professional & Financial Risks & Queensland Branch Manager
T: +61 7 3235 8823

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Ian Balfe - Underwriter, Professional & Financial Risks

Ian Balfe

Underwriter, Professional & Financial Risks
T: +61 8 6188 9507

Email Profile

Jack Chia - Senior Underwriter, Professional & Financial Risks

Jack Chia

Senior Underwriter, Professional & Financial Risks
T: +61 8 6188 9504

Email Profile

Jack Cox - D&O Technical Manager

Jack Cox

D&O Technical Manager
T: +61 2 8047 3372

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 - PFR Portfolio Manager, Commercial D&O

Meredith Lieu

PFR Portfolio Manager, Commercial D&O
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

Pierre Dagnee - Underwriter, Professional & Financial Risks

Pierre Dagnee

Underwriter, Professional & Financial Risks
T: +61 8 6188 9516

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
Brad Harvey - Senior Underwriter, Professional & Financial Risks

Brad Harvey

Senior Underwriter, Professional & Financial Risks
T: +61 3 9619 9865

Email

Christian Manning - Risk & General Business Manager & Southern Region Manager, PFR

Christian Manning

Risk & General Business Manager & Southern Region Manager, PFR
T: +61 3 9619 9803

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Helen Brand - Assistant Vice President – Professional & Financial Risks & Queensland Branch Manager

Helen Brand

Assistant Vice President – Professional & Financial Risks & Queensland Branch Manager
T: +61 7 3235 8823

Email Profile

Ian Balfe - Underwriter, Professional & Financial Risks

Ian Balfe

Underwriter, Professional & Financial Risks
T: +61 8 6188 9507

Email Profile

Jack Chia - Senior Underwriter, Professional & Financial Risks

Jack Chia

Senior Underwriter, Professional & Financial Risks
T: +61 8 6188 9504

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

Josh Luk - Assistant Vice President & Portfolio Manager - Financial Institutions

Josh Luk

Assistant Vice President & Portfolio Manager - Financial Institutions
T: +61 2 8298 5932

Email Profile

Louise Austin - Underwriter, Professional & Financial Risks

Louise Austin

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

Email Profile

Meredith Lieu - PFR Portfolio Manager, Commercial D&O

Meredith Lieu

PFR Portfolio Manager, Commercial D&O
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

Find a Claims 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, Professional & Financial Risks

Angela Messih

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

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Erliza Erwin - PST Specialist, Claims

Erliza Erwin

PST Specialist, Claims
T: +60 3 2082 4057

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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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Kate Mitrevski - Senior Claims Specialist, Professional & Financial Risks

Kate Mitrevski

Senior Claims Specialist, Professional & Financial Risks
T: + 61 2 8298 5953

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Kevin Nhan - Senior Claims Specialist, Professional & Financial Risks

Kevin Nhan

Senior Claims Specialist, Professional & Financial Risks
T: +61 3 9619 9828

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Kristy Cappellotto - Claims Manager, Professional & Financial Risks - VIC

Kristy Cappellotto

Claims Manager, Professional & Financial Risks - VIC
T: +61 3 9619 9817

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Rebecca McIntyre - Senior Claims Specialist, Professional & Financial Risks

Rebecca McIntyre

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

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Stephen Doherty - Senior Claims Specialist, Professional & Financial Risks

Stephen Doherty

Senior Claims Specialist, Professional & Financial Risks
T: +61 2 8298 5886

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