A Personal D&O Policy provides directors cover that is exclusive to the individual director across all Board positions they occupy, and is a ‘safety net’ in the event the D&O policy of the companies whose board they sit on does not respond or is insufficient.

There is an unprecedented amount of litigation against directors and officers at the moment, with new cases being reported almost weekly.  Insurance companies are paying out unsustainable amounts in legal costs and damages.  In turn they are responding by reducing the quantum of Directors insurance they offer and applying more restrictive conditions to the cover.  As a Director or Officer that means you have less protection, both in quantum and quality, against personal liability arising from your role.

Given our extensive work with Company Directors we have created a personal Directors Insurance policy that provides broad cover that attaches to you exclusively across all the Boards you sit on, including ASX listed companies, private companies, SPV’s and NFP’s

Our solution provides an additional benefit.  Our policy is a hybrid D&O and PI policy that provides cover for a potential gap which exists where the NED or Company Secretary acts ‘through’ a corporate entity and thus may be considered to be providing a professional service.

MAIN FEATURES:

  • Cost effective
  • PIDO is a combined PI and D&O policy providing broad coverage, that in many cases is broader, than underlying D&O Policies of the companies whose board you are engaged on.
  • The Policy attaches exclusively to you across all the Boards you are engaged on
  • The policy provides cover for your role on Public Companies (ASX Listed), Private Companies, NFP’s, Associations and SPV’s
  • Policy limits of $1m, $2m up to $5m exclusively for you
  • Cover can extend to past/former Boards
  • Full policy limit for libel & slander and OH&S matters
  • Underwritten by Lloyd’s of London and managed in Australia

APPLICATION FORM:

To obtain a quote please complete the attached PIDO Proposal Form and return to MKM Partners.

QUESTIONS?:

Contact us for a confidential discussion on how we can assist you.