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Finance

Financial Risk Insurance

Professional Indemnity

Professional Indemnity insurance protects you from claims made against you (or your company) by a third party for financial compensation arising from an actual or alleged mistake in the performance of a professional service.

To obtain a quotation, we first need  to understand the risks associated with your specific business for which this insurance provides protection. In many circumstances we are able to provide an indication of premium over the phone. However for a formal quotation please complete and return the relevant Professional Indemnity proposal  form.  If you would like to discuss your specific needs prior to completing the proposal  form, please contact  

Directors and Officers Liability

Directors and Officers Liability insurance protects directors and officers as well as senior managerial staff against claims arising from their actions and decisions in their official capacities. This includes damages awarded in civil courts and the potentially substantial cost of defence costs if they face criminal or regulatory charges.  

As businesses become more regulated eg. Corporate Governance, Health and Safety, amongst others,  the scope for suing individual directors in addition to  the company increases. In the case of individuals, the consequences can be severe as breaches of statutory regulations can lead to heavy fines and in some extreme situations, imprisonment.  In many cases directors accept a career-damaging ban simply because they can not afford the defence costs involved. 

Any director, officer or senior manager of a public, private or government organisation, whatever the size, should buy this cover as claims can arise from a variety of sources, including shareholders, customers and employees. Also directors and officers are particularly vulnerable when going through mergers or acquisitions or if they have USA exposures.  

Individuals could also be at risk in other business roles such as:  

  • Non-executive positions - in an advisory as opposed to a managerial capacity;

  • Shadow directorships - not named as directors though they do exercise control through a director; or 

  • Defacto directors - have the same role as a director but are not legally appointed.

If you would like to discuss your specific needs,  please contact Tony Christian or Rob Wilson via email or freephone 1800 204 373.

 

Mortgage Indemnity

Herbert Insurance Group specialises in Mortgage Indemnity Insurance, written through Lloyd's of London. This product is designed to protect non-bank lenders and their  investors, developers and property owners against financial  risks. The Mortgage Indemnity Insurance and Mortgage Impairment Insurance policies protect these lenders and investors in various types of “pooled” contributory mortgage/debenture funds against loss of investor capital.  The policies provide cover for any shortfall that may occur following default by the borrower, leading to a mortgagee sale of the property which has been offered as security over the loan insured. 

The policy also provides “back up” protection in the event that the primary insurance policy covering the asset fails to respond to a claim. 

Many and varied policies relating to Pre-sale Guarantees, Surety Bonds, Residual Guarantee, Rental Guarantee Insurance, Tax Concession Liability Insurance and many other unique policies that are designed to protect investment funds have been put in place. 

Herbert Insurance Group's Managing Director, Grant Herbert, is more than happy to discuss and seek to purchase cover for Risks that may not have been considered ‘insurable’ by others. 

Herbert Insurance Group  acts on behalf of many of the non-bank lenders both in  Australia and New Zealand  for this product.

 

Specifically these products include:

  • Mortgage Impairment

  • Mortgage Indemnity

  • Mortgage Redemption

      

 

For all your enquiries please contact:

Grant Herbert
e: grant@herbertinsurancegroup.com
t:  +64  9 379 9757

Tony Christian
e: tonyc@herbertinsurancegroup.com
t: +61 7 5556 6101

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