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Umbrella Defence Costs

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.

LIU‘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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