Products

Directors & Officers

The Directors & Officers protection is  designed to ensure the exposures that the Customer Owned banking industry has in Australia are met.

There are few exclusions and conditions, to minimise confusion of what is included.

Protection

• D&O, company reimbursement & securities liability
• Employment practices & statutory liability
• Broad definition of protected person (including superannuation trustee)
• Company reimbursement
• Clear definition of subsidiary including joint ventures
• Broad definition of wrongful act

Extensions

• Continuous protection
• Extended reporting period (auto 90 days & up to 12 month on request)
• Inquiry representation expenses (no sub-limit)
• Additional protection limit
• Occupational health & safety defence costs
• Outside directorship protection
• Personal tax liability
• Public relations & crisis management costs & expenses
• Retired Directors & Officers (automatic 84 months)

Professional Liability

The Australian Customer Owned banking industry presents a differentiated risk profile and demands a protection that reflects this.

There are few exclusions and conditions, and is written in clear language

Protection

• Civil Liability arising from professional services
• Inquiry representation expenses
• Loss mitigation costs & expenses

Extensions

• Continuous protection
• Lost documents
• Statutory liability
• Extended reporting period (auto 90 days and up to 12 month on request)

Crime

Unfortunately, no organisation is immune to criminal activity.

The Crime Protection PDS has been constructed to provide clear and unambiguous protection from a broad range of events.

Protection

• Employee dishonesty
• Fraud, forgery & counterfeiting
• Theft
• Customer account fraud (including plastic card fraud)
• Extortion

Extensions

• Corporate identity fraud
• Extended discovery period
• Interest
• Investigation expenses
• Legal expenses
• Legal liability for incomplete transactions
• Mitigation of loss
• Stop payment or direct debit order liability

Excludes Cyber

The Crime Protection PDS provides a clear distinction between Crime and cyber liability/loss.

Cyber is not included under the Crime Protection wording. Members should place their own Cyber Insurance cover separately.