Director Liability: The Law and Insurance

Trevor Hole – Divisional Manager, Professional & Executive Risk Services

Jardine Lloyd Thompson Pty Ltd

Adelaide – Thursday, 5 June 2014

© Governance Institute of Australia

Major Concerns for Directors and Officers and Insurers of Directors and Officers

• Advancement of Defence Costs

• Workplace Health and Safety Legislation

• Litigation Funders

• Other

Advancement of Defence Costs

- BridgeCorp

- Chubb v Moore (Great Southern)

Impact on policy cover - Solution

Workplace Health and Safety Legislation

Are the Fines Covered By Insurance? – What Policies Do I Need?

- Directors and Officers Liability

- Statutory Fines and Penalties Policy

- Management Liability

Litigation Funders

Shareholder Class Actions

a. Directors

b. The Entity

Impact on Policy

Solution- Side C Cover

Other Matters

- Recent Queensland Legislation

- CAMAC Review

- Policy Fit for Purpose- Public Listed Companies- Private Companies- Mutuals- Not-for-Profits

© Governance Institute of Australia