Earth Insurance works with the Directors and Management of your business to help with the exposures of running a business and look at the below key areas.

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We provide you with 2 options, one has 1 limit and 1 excess for each section or the elected sections and other has a full report based on over 100 variables so that you can see exactly how the premium is impacted by increasing or reducing the limit of indemnity or excess in each section.

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We have access to multiple insurers that provide broad cover, premiums are generally minimal depending on the type of business you have and can often be around 0.1%-0.2% of a revenue of $2m+, which makes it very financially viable when you consider that the type of claims that arise could be severe for any business.

 

Management Liability:

Broad cover for costs associated with defending directors, managers and employees against claims arising from their actions and decisions.

• Individuals’ defence costs, damages and settlements

• Employment practices liability for individuals

• Outside directorship cover

• Reinstatement limit for board directors

• Asset and liberty costs for individuals

• Individual Statutory Liability (up to $250,000)

• Investigation cover (including OHS and pollution)

• Public relations expenses (up to $100,000)

• Extradition costs for individuals

• Lifetime retired directors cover (12 years for trustees)

• Superannuation scheme individual fiduciary capacity

 

Corporate Liability:

Protection for the business from claims of wrongful management, plus coverage for the accidental death of a director, and PR costs to prevent damage to or restore business reputation in the event of a crisis.

• Pollution defence (up to $100,000)

• OHS defence and investigation (up to $500,000)

• Breach of contract (up to $100,000)

• Liability for employee theft (up to $100,000)

• Identity fraud (up to $100,000)

• Crisis costs (up to $50,000)

• Superannuation Scheme operation (up to $250,000)

 

Employment Practices Liability:

Protects the business from claims for wrongful dismissal or discrimination by past and present employees, customers or suppliers.

• Broad ‘all risk’ approach

• Cover extends to an executive or non-executive

• Third Party harassment/discrimination

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Crime:

Protecting the balance sheet from fraudulent or dishonest activities carried out by employees or outside third parties.

• Any one loss limit (unless an aggregate limit is selected across all policy sections)

• Acts occurring prior to and during the policy period which are discovered during the policy period

• Extends to employees, third parties and shareholders, plus employees of outsourcing companies

• Destruction and damage of money or securities

• Care, custody and control

• Legal fees and reconstitution costs ($50,000 for each) in excess of the limit 

• Investigative specialist costs to investigate, prove and report a loss (up to $100,000)

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Superannuation Trustees Liability:

Protection for the business, trustees, employees and the fund itself against claims brought in relation to wrongful acts involving a plan, whether actual or merely alleged.

• Trustee liability of individuals and corporate entity

• Awards by ombudsman or superannuation regulator

• Company cover for lost or stolen trustee documents

• Reimbursement of a plan under an exoneration clause

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Statutory Liability:

Protecting both individuals and the entity against fines and pecuniary penalties.

• Fines and pecuniary penalties against individuals and the company

• Available for employment liability and superannuation trustee liability if policy sections included

General Terms and Conditions

• Court attendance (up to $100,000)

• Regulatory crisis response (up to $100,000)

• Optional fixed-price discovery period for 12 or 24 months

• Emergency costs (up to 10% of the limit)

• Advancement of defence costs

BusinessGuard Advisory Panel

• Confidential helpline provides access to complimentary legal advice

• The panel firms are pre-approved at competitive pre-agreed rates and are ready

to act without delay.

• When you select a panel firm to defend a claim, you can rest assured that there will be no gap between the firm’s hourly rate and the policy cover