Directors & Officers2021-06-23T16:36:07+09:30


Directors and Officers Liability Insurance is designed to protect the personal assets of directors and officers, by providing indemnity for loss arising from a claim, as a result of a ‘wrongful act’ committed by them in the course of performing their fiduciary duty. A Wrongful Act is usually defined as an error, misleading statement, misconduct, omission, neglect or a breach of duty.


  • Judgements
  • Settlements
  • Investigative costs
  • Defence costs
  • Costs to appear at inquiries or investigations

Please ensure that you read your specific schedule and policy wording to establish actual covers quoted / taken.


The law imposes duties upon the Directors and Officers of companies which they are personally liable for, including:

  • exercising a reasonable amount of care and diligence in the conduct of their duties and use of the power of their position
  • to not misuse information or their position to gain advantage for themselves, or to disadvantage shareholders of the company
  • preventing the company from trading whilst insolvent

Anybody involved in the management have duties and obligations which may arise from one or more of the following statutes:

  • Corporations Law
  • Workers Compensation legislation
  • Occupational Health & Safety legislation
  • Superannuation legislation
  • Trade Practices Act and Fair Trading Acts
  • Equal Employment Opportunity and Anti-Discrimination legislation
  • Income Tax Assessments
  • Act Environment legislation


In the current market, several Underwriters have released broader based Directors and Officers Liability policies, generically called “Management Liability Covers”.

A number of these policies may be endorsed to include aspects of cover such as Employment Practices Liability (ie. unfair dismissal, harassment), Statutory Liability Cover (fines and penalties) and also provide valuable access to experienced Legal Representatives. Please contact our office should you have any questions about these options.

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Frequently Asked Questions

Is MGA community minded?2020-02-19T09:29:45+10:30

MGA is located in all mainland states and territories, both in metro and regional centres. In each of these locations MGA is a part of the local community and support is provided through local sponsorships and donations to a wide variety of sporting clubs, community groups, charities and events. On a national level the MGA Whittles Community Foundation was set up to facilitate fundraising by staff, along with contributions from MGA and its sister company, Whittles, from which 100% of funds are then donated to worthy charities.

For more information, please visit www.mgawhittlesfoundation.org.au

To find your local MGA office, see www.mga.com/our-offices/

Where can I find my nearest MGA Insurance Group office?2021-04-19T12:15:58+09:30

MGA has over 40 offices (and growing), located in both Metro and regional areas across mainland Australia and one in Phnom Penh, Cambodia. Office contact details can be found on our website, view our offices.

Why is it important to have the right insurance?2020-02-19T09:30:11+10:30

It’s important to understand your own risks so you can choose the right insurance product. In Australia, we have over 100 licensed insurers that offer a broad range of insurance products to choose from. Each insurer offers policies with different terms and conditions and exclusions so no two policies are the same. MGA brokers can provide advice on a wide range of general insurance products, both for domestic and business purposes and also have access to insurance policies that are not readily available to consumers.

Shouldn’t I just use an Insurance comparison website?2020-02-19T09:29:31+10:30

Some people turn to insurance comparison sites to look for the cheapest insurance, but that’s not always the best way as price is not the only thing you should consider. The policies you’ll be offered are usually fairly generic and may not meet your individual requirements. MGA brokers can arrange insurance cover on your behalf and provide advice on how to make the most of your insurance budget.

What’s the difference between an insurance agent and an insurance broker?2020-02-19T09:30:24+10:30

The main difference is that an insurance agent is a direct representative of the provider of the insurance policy being offered to you, their responsibility is to sell the products from those insurers and no others. They may be a multi agent where they provide covers from several providers, but they continue to only sell products from those insurers.

An insurance broker on the other hand is able to access many different insurers (excluding those that only sell direct to the public), matching the customer’s needs to the insurance policy and negotiating changes that may be required. Insurance brokers are engaged by the customer and are working on their behalf to source, negotiate, maintain, renew and assist in the claim process. An insurance broker is an advocate for the client, not the insurance company.

Can I pay for my insurance online?2020-02-19T09:30:44+10:30

Yes, you can pay for your insurance online through several different payment methods. Visit www.mga.com/payment-options/ to find a payment method that suits you.

How do I find my policy number?2020-02-19T09:30:53+10:30

Your policy number can be found on the tax invoice that you received when you purchased your policy. View example.

What is a Product Disclosure Statement (PDS)?2020-02-19T09:31:02+10:30

A Product Disclosure Statement (PDS) provides you with essential information to help you make a decision about whether to buy a particular product. It describes in clear terms the main features and the terms and conditions of the policy. A PDS also provides information about the cooling off period after you purchase the policy in case you change your mind and outlines what you need to do in the unlikely event you have a complaint.

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