About the ID&O Product
When you're a Director or Officer, your personal risk doesn’t disappear just because your company holds management liability or D&O insurance. Those policies are designed to protect the business first—and only cover you when certain conditions are met.
Individual Directors & Officers Insurance (ID&O) fills the gap.
Issued by Synergy Underwriting and backed by Vero Insurance, ID&O is a personal liability policy designed to protect you individually when your company can’t—or won’t—step in to help.
It doesn’t interfere with your existing cover. It sits alongside it. And unlike most corporate policies, you can purchase ID&O yourself. No board approval required.
Extra protection to cover you when your company can't.
$300 + fees and charges
Extra protection to cover you when your company can't.
$500 + fees and charges
What makes ID&O different?
- Covers you—not the business
- Responds when your company is legally unable or unwilling to indemnify you
- Covers all eligible directorships under a single policy
- Doesn’t duplicate or override your existing policies—it works alongside them
- Fast online quote, instant policy issue, pay by credit card
- Includes up to two hours of legal advice from a trusted panel law firm
- Covers personal tax audits, regulatory investigations, WHS inquiries and more
Who is it for?
- Current or incoming Directors and Officers of private Australian companies
- Individuals with multiple board roles across eligible industries
- Anyone seeking personal protection separate from the company’s insurance arrangements
- Whether you're on one board or several, ID&O gives you personal peace of mind—in writing.
- Wrongful Acts: If someone sues you personally for things like mismanagement, breach of duty, misleading conduct, negligence, or defamation.
- Defence Costs: We pay your legal bills as they happen (not after the case is over), provided no dishonesty is proven
- Regulatory Investigations: If you're asked to attend an ASIC, ACCC, or other formal investigation, we pay for your legal representation (even if you’re not accused of wrongdoing).
- Insolvency-Related Investigations: If the company goes under and you’re dragged into it, we’ll cover your defence (after 12 months of continuous cover).
- OH&S & Industrial Manslaughter Defence: If you're held personally accountable for a workplace incident, including a fatality, we cover your legal defence.
- Personal Tax Audit Cover: Covers up to $20,000 in accountant or tax agent fees if you’re personally audited by the ATO.
- Mitigation Costs: If you need to act quickly to stop an issue from becoming a formal claim, we’ll cover up to $100,000 to help mitigate the risk.
- Free Legal Advice: up to 2 hours of legal consultation per year with one of our panel lawyers (for covered matters)
- Fraud or Criminal Acts: No cover for dishonest, fraudulent, or malicious behaviour, unless you’re found innocent.
- Claims or investigations already known: If you were already aware of a claim, complaint, or investigation before the policy started (and didn’t tell us), it won’t be covered.
- Claims related to publicly listed companies: If you're a director of a public company or involved in public share offerings or capital raising, you are not eligible.
- Professional services: No cover for professional advice or services unless it’s in your role as a director or officer.
- Personal injury or property damage: This is not a liability or workers’ compensation policy.
- Family-related claims: No cover if the claim is brought by your spouse, children, or their trusts/entities.
- Abuse or harassment claims: Claims involving abuse, neglect, harassment, or bullying are excluded, except for limited cover for emotional distress due to wrongful dismissal or discrimination.
- If your company earns less than 25% of its revenue from restricted activity (such as selling tobacco), you may still be eligible. Get in touch to confirm.
Industry/Activity Exclusion
For clarity, this Exclusion only applies to directorships or officer roles with companies involved in the industries/activities listed below. All other board or officer positions you hold remain covered under this Policy.
The following is added as an Exclusion to section 6.1 ‘General Exclusions’ of the Policy: arising from or in any way involving the Insured being a Director or Officer of a Company that:
A. undertakes one or more the following activities:
- Aquaculture, forestry or logging
- Mineral, gas or petroleum mining, extraction, exploration or processing
- Production or distribution of tobacco or recreational cannabis
- Basic or hazardous chemical product manufacturing
- Aircraft manufacturing
- Electricity, gas or water supply, generation or distribution
- Waste collection, treatment, remediation or drainage services
- Building, construction or engineering, other than when such services are limited to:
(a) operating as a tradesperson, excluding operating as a builder or as a manufacturer, importer, supplier, processer or installer of engineered stone products; and
(b) professional architectural or engineering design or consulting services (no construction)
- Property development
- Sale of tobacco or recreational cannabis, unless such activities account for less than 25% of the Company’s annual revenue in both:
(a) the current financial year to date as at the inception of the Period of Insurance; and
(b) the most recent full financial year prior to the inception of the Period of Insurance
- Passenger or freight transport or transport support services
- Broadcasting (except internet broadcasting)
- Banking, finance, insurance or investment services, other than when such activities are limited to:
(a) managing a self-managed super fund;
(b) actuarial services; and
(c) claims adjustment or assessment services
- Credit reporting or debt collection
- Franchising
- Heavy machinery or scaffolding rental or hiring services
- Legal services
- Public administration including local, state or federal government administration
- Defence, public order, emergency, safety or regulatory services, including but not limited to security and correctional and detention centre services
- Biomedical or biotechnology activities
- Sports administration
- Horse and dog racing activities
- Amusement park operation
- Gambling activities
- Casino operation
- Adult entertainment, including but not limited to brothel keeping and prostitution services
- Foster care or child protection services
- Religious services
- Student residence or youth hostel operation
and/or
B. is one or more of the following:
- A local, state or federal government body or agency
- A political organisation
- A labour association or trade union
- A sporting club
- A private household employing staff
Claim Examples
A director of a civil construction company sent an email to a number of staff members which contained statements about two of their suppliers which could be perceived as defamatory. The suppliers found out about the email and commenced proceedings against the author of the email. The matter resolved at mediation with a payment of $60,000. In addition, Defence Costs of $57,390 were incurred
A director of a retail business prioritised paying suppliers and maintaining cash flow during financial difficulties, resulting in the company failing to remit $95,000 in PAYG withholding tax, $42,000 in GST, and $38,000 in superannuation guarantee charges over a 12-month period. The ATO issued Director Penalty Notices making the director personally liable for the total $175,000 debt. Despite the company entering voluntary administration, the director remained personally liable and was forced to sell investment properties to satisfy the debt, along with additional penalties of $28,000 and ATO legal costs of $12,500.
A director of a manufacturing company awarded a $500,000 IT services contract to a business in which he held a 60% ownership stake, without disclosing this conflict of interest to the board or other directors. Two other suppliers had submitted lower quotes with comparable services. When the conflict was discovered during a routine audit, the company commenced proceedings against the director for breach of fiduciary duties. The matter was settled with the director paying $150,000 in damages (representing the excess cost to the company) and $45,000 in legal costs, and the director was required to resign from the board.
A director of a marketing agency used the company credit card to pay for $78,000 in personal expenses over two years, including family holidays, private school fees, and home renovations. The expenses were disguised in company records as "client entertainment" and "business development." When the new CFO discovered the discrepancies during a financial review, the company brought proceedings against the director for breach of duty and misappropriation of company funds. The director was ordered to repay the full $78,000, pay $32,000 in legal costs, and was disqualified from managing corporations for five years.
A director of a wholesale distribution company signed a five-year warehouse lease worth $1.2 million without conducting any due diligence or seeking board approval. The warehouse was later discovered to have significant structural defects and contamination issues, making it unsuitable for the company's operations. The company was forced to terminate the lease early, incurring $340,000 in break costs and relocation expenses. The other directors brought proceedings against the negligent director for failing to exercise reasonable care and diligence. The matter settled with the director paying $200,000 in compensation and $48,000 in Defence Costs.
A director of a software development company disclosed confidential client data and proprietary source code to a competitor in exchange for a consultancy position worth $150,000 per year. The breach was discovered when the competitor launched a nearly identical product six months later. The company commenced proceedings against the director for breach of confidentiality duties and fiduciary obligations. The court found in favor of the company, ordering the director to pay $420,000 in damages for lost revenue and competitive advantage, plus $67,000 in legal costs. The director was also subject to a restraint of trade injunction preventing work in the industry for three years.