Features of QBE Directors’ & Officers’ Insurance Policy

Features of QBE Directors’ & Officers’ Insurance Policy


  1. Wide definition of Insured person, which includes past, present and future directors (including de facto, alternate or shadow directors), officers, secretary and employees in a managerial or supervisory capacity.
  2. Legal representatives, estate, heirs, lawful spouse and domestic partner are covered in the event that they are named in a claim which resulted from the D&O’s wrongful act.
  3. Costs of appeal and bail or similar bonds are included as part of defence costs.
  4. Additional 60 days after expiry of policy to notify claims at no additional premium.
  5. Advance payment of defence costs using “Pay on behalf” language; i.e. QBE pays for the upfront defence costs on the Insured’s behalf.
  6. Punitive, multiple and exemplary damages awarded outside U.S.A. or Canada are covered if insurable by the law of the jurisdiction that they are awarded.
  7. Official investigations and enquiries: cover is provided for all reasonable and necessary costs including legal representation costs incurred in connection with a D&Os’ legally compellable attendance at any official investigation, examination or enquiry into the affairs of the company that could lead to a claim, without the need for a wrongful act allegation.
  8. All existing subsidiaries are covered. Newly created or acquired subsidiaries are automatically covered, subject to asset size and the subsidiary not listed in the U.S.A.
  9. Emergency defence costs can be incurred without QBE’s prior consent for amounts up to 10% of the limit of indemnity.
  10. Employment related matters: cover is provided for claims that are related to employment matters, such as unfair dismissal, deprivation of career opportunity, discrimination, sexual harassment and retaliation of the company to an employee’s whistle-blowing. 
  11. Occupational Health & Safety: defence costs are covered for breach of such Act or its equivalent.
  12. Wide definition of wrongful act including breach of duty / trust / warranty /authority, breach of intellectual property and defamation.
  13. All Previous securities offering are covered.
  14. Retired Directors and Officers cover is provided for a period of 84 months if the D&O policy is not renewed or replaced.
  15. In the event of a “Significant Change” where the company is acquired, goes into bankruptcy or sells more than 75% of its total assets, run-off cover for a period of 84 months can be provided.
  16. Severability and non-imputation: In the event of non-disclosure, misrepresentation or non-compliance of policy terms and conditions by an insured person, this will not void the policy or prejudice cover for other innocent insured persons. 
  17. No “Insured vs. Insured” Exclusion outside USA/Canada.
  18. Worldwide territorial and jurisdiction coverage.
  19. Non-rescindability of cover for any misrepresentation or non-disclosure.
  20. Professional Services Exclusion does not apply to the failure to supervise any employee of the company.
  21. Defence costs are advanced until admission of wrongdoing, judgement or final adjudication for dishonest, fraudulent, criminal, malicious or deliberate acts.
  22. Preservation of indemnity: if the company does not indemnify the insured person when it is not prevented from doing so (unless in voluntary liquidation), QBE will indemnify the full loss arising from the claim and recover the retention from the company.
  23. Priority of payments to insured persons: losses that involve both the insured persons and the company would be paid to the insured persons first.
  24. Appointment of lawyers: the insured may appoint its own lawyers with QBE’s agreement.
  25. Notification of circumstances: circumstances notified during the period of insurance which subsequently lead to a claim which is made after the expiry of cover, will be deemed have been made during that period of insurance, even though the company may no longer possess a D&O policy. 

The following cover could also be provided:


  1. Additional dedicated cover for each individual Director and Officer (in addition to limit of indemnity of the policy): in the event that the policy limit of indemnity is exhausted, an additional limit of indemnity is provided to each individual Director or Officer.
  2. Compensation for Court costs: Daily compensation is provided if the Director or Officer is required to attend court as a witness in connection with a claim.
  3. Continuous cover: Should a claim or circumstance that should have been notified on a previous QBE D&O policy but is notified only now, QBE will accept this late notification under the previous QBE D&O policy.
  4. Bilateral extended reporting period of 12 months at only 50% of annual premium.
  5. D&Os who sit on external positions of other company or non-profit organization are covered.
  6. Extradition proceedings: the costs of defending such proceedings are covered.
  7. Pollution cover is provided for defence costs and claims by shareholders.
  8. Securities offering are covered for up to 30 days after the date of Initial Public Offerings (IPO) in Singapore without charge, so long as proceeds raised do not exceed S$200 million. Secondary offerings can be automatically covered.
  9. Entity cover for Critical Occurrence: Cover is available for the company for the cost of engaging a public relations consultant to mitigate damage should the company suffer a drastic fall in its share price within 24 hours due to prescribed events.
  10. Entity Employment Related Matters: Cover is available for the company for employment related claims.
  11. Entity Securities Claims: Cover is available for the company for claims arising from the buying or selling, or offer to buy or sell securities of the company.


Please note that you should at all times refer to the full policy terms and conditions.



Copied by: Imam MUSJAB

Based on  Features of QBE Directors’ & Officers’ Insurance Policy

tel +628128079130 email: imusjab@qbe.co.id


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