Statutory Liability

Across all industries, companies are expected to comply with a variety of statutes. A breach of a statute could result in the company facing an investigation or prosecution by a regulatory body and subsequently the imposition of a fine or penalty.

Even with the best internal policies in place, there remains an ongoing risk that a company may face exposure due to unintentionally breaching a statute. Such exposures can arise not only from the actions of the company itself but also from the acts of its directors, officers and employees.

Statutory Liability & Legal Costs policy is designed to protect the insured company and its directors, officers or employees from an insurable loss incurred as a consequence of a wrongful breach of statute.

The cover provided will include insurable statutory fines or penalties and the legal costs incurred defending a claim which alleges a wrongful breach of statute. In addition, cover includes the costs incurred attending any regulatory investigation.

If you would like to know more about this product and how it can protect your business, please contact us.

Any advice or recommendation that may have been implied is General Advice only. Please be aware that we have not taken into consideration your needs, objective or financial requirements. Before deciding to purchase a financial product, you should read the Product Disclosure Statement to ensure the product is suitable for your needs.