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Childcare Association Edge Insurance Policy

Private companies (for profit and not-for-profit) and its directors are under increased scrutiny from regulators in relation to corporate governance and the management of the business activities. Consequently it is increasingly important that the company adequately protects its directors’ and officers’ as well as the company itself against legal liability.

Why isn’t Directors and Officers Insurance enough?

A Directors’ and Officers’ policy will cover the directors and officers but will not cover if the claim is brought against the company itself. This means that if a claim is brought against the company there is no insurance cover to protect the company and the company would have to pay the claim itself.

An Assocaiton Edge policy resolves this issue by extending the cover to protect the company as well.

What sort of claims could you or your company face?

There are numerous potential insurance claims you or your company could face including:

  • breach of directors’ or officers’ duties
  • breach of fiduciary duty
  • breach of statutes including the Trade Practices Act
  • breach of confidentiality
  • occupational health and safety proceedings
  • infringement of intellectual property rights
  • defamation
  • allegations of improper or illegal conduct

Who could claim against you or your company?

There are many stakeholders from which a company and its directors could incur both a personal and corporate liability such as:

  • Customers
  • Creditors
  • Employees
  • Shareholders
  • Regulators
  • Liquidators
  • Competitors

What does the Altiora Childcare Association Edge Policy cover?

The Altiora Childcare Association Edge Policy is an ‘all-in-one’ tool-set with cover for:

  • comprehensive directors and officers liability providing financial protection for the directors and officers of your company in the event they are sued
  • professional liability covers for claims for breach of professional duty
  • misleading and deceptive conduct
  • fraud/dishonesty including fraud investigator’s costs
  • intellectual property infringement
  • defamation claims
  • employment practices liability including:
    • wrongful dismissal
    • sexual harassment
  • claims relating to the staff superannuation fund
  • Occupational Health and Safety Defence/Investigation Costs
  • Taxation disputes. Cover for up to $50,000 of tax audit costs and legal costs involved in challenging a loss of concessional tax status eg loss of not-for-profit status
  • Crisis and Publicity Costs. Covers crisis management services and a publicity campaign to prevent or mitigate reputation damage as a result of a crisis or a claim. Choice of $50,000 or $25,000 limits.

Experience that counts

Altiora Childcare has more than 20 years experience in providing support and advice to the childcare sector.

For more information or to arrange a quote, please contact our childcare insurance team on.

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