What we coverDirectors & Officers:
Directors & Officers:
Protecting your personal world
The Lowdown
When you’re a director, your personal assets can be on the line if things go wrong. If a regulator, shareholder, or creditor claims you didn’t do your job properly, D&O insurance pays for your legal defense. It’s the “firewall” between your business decisions and your personal bank account.What it protects against
Legal costs and damages arising from “wrongful acts” like breach of duty, neglect, or misleading statements.
Who Needs It
and any business with a board or formal leadership structure.
FAQs
Is this the same as Management Liability?
They’re cousins.
- Management Liability is a “package” that covers the whole company for things like staff disputes.
- D&O is specifically focused on the individual people in charge. Think of it as a personal suit of armor for the bosses.
Can I be sued even if I didn't do anything intentionally wrong?
Yes. In Australia, you can be held liable for “oversight” or “negligence.” Even if it was an honest mistake in judgment, the legal fees to prove that can be massive. D&O handles those bills.
I’m the only director of my small company. Do I still need it?
Actually, you might need it most! Since there’s no one else to share the load, any legal action against the company often targets you personally. D&O ensures your family home and personal savings aren’t part of the legal fight.