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Umbrella Defence Costs

The 2014 Bridgecorp ruling (regarding competing claims between defence costs and third party claims on a policy) has potential implications for the Australian insurance market – in particular NSW, the ACT and the Northern Territory, where equivalent legislation applies. The ruling may not be confined to Directors & Officers Liability policies: it could prevent the holder of any liability policy from accessing defence costs where the limit of liability is defence costs-inclusive, which is the case for many professional liability policies.

Liberty‘s Umbrella Defence Costs policy is our unique response to this development.

At a glance:

  • Single overarching solution to insurance concerns
  • Protects one or more classes of liability
  • Provides a limit exclusively for defence costs.


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LIU Specialty Markets LIU Specialty Markets

Copyright 2018 Liberty International Underwriters

Liberty International Underwriters, known also as LIU or Liberty, is a trading name of Liberty Mutual Insurance Company (ABN 61 086 083 605) incorporated in Massachusetts, USA (the liability of members is limited); Liberty International Underwriters Limited (No. 2400200), incorporated in Hong Kong and Liberty International Underwriters Pte Limited (UEN 201538069C), incorporated in Singapore with a branch in Labuan (Reg. No. LF12903), licensed to carry on general insurance business under the Labuan Financial Services and Securities Act 2010, Lic. No. IS2016162 (together LIU).

We are not authorised to provide financial product advice. Accordingly, the information on this website does not take into account your objectives, financial situation or needs. Always consider the applicable policy wording and other relevant disclosure documents before deciding to acquire a financial product.

 

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