Covers claims against the people who run the company, and against the company itself, for how it was run. Directors can be personally liable in Australia, and that liability does not stop at the company’s assets.
These are the real questions, and why each one changes your premium. Our chat walks through them with you.
Employment practices claims are the most common claim under this cover by a wide margin. A documented process is the main thing that defends one, and insurers price accordingly.
Employee fraud is usually a control failure rather than a sophisticated scheme. One person able to raise and approve a payment is the exposure insurers ask about first.
The same reasoning. Separation of those three jobs is what stops a small theft going unnoticed for years.
It has been a legal requirement in Australia since 2022. Insurers treat it as a basic indicator of how closely the company follows its obligations.
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This page is general information only and does not take your objectives, financial situation or needs into account. Consider the Product Disclosure Statement before deciding. Cover is subject to the insurer’s terms and acceptance.