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Corporate insurance
Directors and officers liability insurance
Directors and officers’ liability insurance (often called D&O insurance) is designed to protect directors, officers and employees involved in the management of a company, from personal loss resulting from legal claims made against them while they perform duties on behalf of the company.
A company’s board of directors and officers are personally at risk. They are accountable for all aspects of corporate governance, including business failings, oversights or omissions. Family trusts and the company’s limited liability status may not be enough to keep a director’s home and other personal assets safe.
What does directors and officers liability insurance cover?
Directors and officers insurance reimburses the costs resulting from law suits and judgments arising out of poor management decisions, employee dismissals, shareholder grievances and other acts committed in good faith.
Possible legal action can arise from:
- employees - including wrongful dismissal, harassment, unfair work practices and unsafe work environments
- third parties - including shareholders, bond holders, creditors, liquidators, competitors or regulators
Help with directors and officers insurance
We can advise you on the best business insurance solutions to protect you against the financial outfall of claims made against officers and company directors. However, every director’s situation is different and warrants expert advice. Your broker can provide this guidance for you and will work with you to develop an insurance package to cover your risks. In the event of a claim, we'll work as your advocate to help get a fair and prompt result.
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Liability solutions
Public liability
Public and product liability insurance minimises the financial impact on a business should the unexpected happen
Product liability
Product liability insurance protects against claims of personal injury or property damage caused by a business
Directors and officers liability
Directors and officers insurance protects your executives and board from personal financial risk
Statutory liability
Statutory liability insurance can protect businesses against certain unintentional breaches of New Zealand law
Employers liability
An employers liability policy protects employers against claims brought by their employees who have sustained an injury where the ACC does not provide cover
Employment disputes
Employment disputes insurance protects employers against personal grievance claims brought by past or present employees
Crime insurance
Crime and fidelity insurance protect organisations from losses which could arise from dishonest or fraudulent acts committed by employees
Professional indemnity
Professional indemnity insurance is designed for professionals who provide advice
Trustees liability
Trustees liability insurance protects trustees from personal liability while carrying out duties performed for the trust