Written by Condon Associates on 11 July 2011

Recently the Australian Institute of Company Directors (AICD) was quoted as saying that less than 17 percent of all companies have any form of Directors or Officers insurance. Therefore with all the recent upsurge in legislative change that continues to increase the personal burden on directors it must be the time for some more serious thought by them as to appropriate protective measures that should be taken.

Insurance is one of them and should not be ignored but you also need to make sure that you know what you are covered for. However this is only one of the available measures; others being timely and accurate financial information, proper and timely professional advice, a willingness to accept mistakes are made but a determination to rectify them rapidly, and most fundamentally a clear and simple plan.

Ignorance of these factors will cost and not just with the loss of your business, but increasingly with everything you and your family may own.

PLEASE NOTE: All information contained in the articles below was correct at time of publishing.