Recent significant growth in civil claims against company directors and officers has stemmed from regulatory changes imposing greater duties on company officers and the growth in litigation funding of many more class actions.
Our lawyers are unrivalled in their experience acting for directors’ and officers’ (D&O) insurers, both primary and excess, in significant D&O claims both in Australia and internationally.
We also act for insurers in small to medium sized D&O claims, both litigated and unlitigated, across many industries including:
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Aviation and transport
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Telecommunications and media
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Mining, gas and petroleum
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Retail and leisure
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Professional associations
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Our work extends beyond litigation to advising both insurers and insureds on complex policy coverage issues, including relating to entitlements of directors to advancement of defence costs.
Work highlights
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Successfully defending CGU in proceedings commenced against the D&O insurer by the liquidator of an insolvent mining company. Indemnity denied to directors under directors and officers insurance policy for non-disclosure - Martin John Green in his capacity as liquidator of Arimco Mining Pty Limited (in Liquidation) v CGU Insurance Limited & Ors [2008] NSWSC 825).
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Successfully defending D&O insurers against a claim brought against them by a former director of an insurance brokerage company on the basis of alleged fraudulent nondisclosure or misrepresentation. In this case, Kennedys obtained a verdict in favour of the insurer, together with an order for indemnity costs of the entire proceedings.
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Representing the officers of major financial services companies including HIH, James Hardie and Zurich in investigations brought against them by the Australian Securities and Investments Commission (ASIC).
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Acting on behalf of D&O insurers of a high profile financial services company placed into liquidation.
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Acting on behalf of officers of insurance companies in respect of ASIC investigations into the financial accounts of collapsed companies.