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ARTICLE · 29 AUGUST 2023

Indemnity and D&O Insurance: A brief summary for directors and officers

Holding Redlich
Holding Redlich
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Companies should indemnify directors and officers for any liability incurred by them in their position in the company.

AustraliaInsurance
Howard Rapke
Howard Rapke
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Directors and officers of companies are subject to numerous statutory duties and can face a wide range of claims giving rise to civil and criminal liability for breaching them. Regulators with the power to investigate and pursue civil or criminal penalties for wrongful conduct include the Australian Securities and Investments Commission (ASIC), the Australian Competition and Consumer Commission (ACCC), the Australian Taxation Office, the Australian Federal Police, and the Environmental Protection Authority, amongst others.

The amount of legal and other professional costs incurred by a director or officer in the defence of a claim against them or in connection with an investigation is often substantial, as are the civil and criminal liabilities.

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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