Individual directors' and officers' liabilty insurance
PASSPORT D&O is a secondary policy to the corporate directors’ and officers’ policies purchased by corporations. It provides you with an added layer of protection for each board position you currently hold or have held in the past on any private or unlisted public company or not-for-profit organisation.
PASSPORT D&O is activated when the insurer of a company (where you hold a board position) refuses to pay or is unable to pay under the company’s Directors‘ & Officers‘ or Management Liability Policy, or the company refuses or is financially unable to indemnify you.
PASSPORT D&O has been developed by Imalia and London Australia Underwriting Pty Ltd (LAUW), who writes exclusively on behalf of Lloyd's of London Syndicates. Imalia is an innovative Australian financial services business, providing a range of financial and insurance products and services tailored to suit the needs of women.
Why would I need extra cover?
Your company’s Directors’ and Officers’ insurance policy may not respond to a claim against you for host of reasons such as:
- Insolvency exclusion clause.
- The company’s Directors’ and Officers’ limit is reached because of an existing claim.
In both instances, Passport D&O would step up to protect your interests in the event of a claim against you
How to buy the policy?
There are two options for the limit of indemnity? You can increase your level of indemnity at anytime throughout the year.
|Limit of Indemnity
||Premium Cost (inc. GST)
* Excludes stamp duty fees which are different in each state and territory.
WoB subscribers receive an exclusive 30% discount + 30 minutes of free legal advice when they purchase PASSPORT D&O from Imalia.
WOB Subscribers - CLICK HERE. You will be taken to a subscribers-only page and will need to login in order to access your exclusive 30% discount. You can become a WOB subscriber ($185 per annum) to access the discount.
Non -subscribers and others CLICK HERE to find our more about and apply for your PASSPORT D&O from Imalia.
The Passport D&O Policy, the Passport D&O Declaration, the Passport D&O Policy Benefits and the Imalia Financial Services Guide are available on the Imalia website.
With thanks to Helen Wiseman and Carole-Ann Priest from Imalia for their support for Women on Boards.