INSURANCE – Directors and Officers liability insurance – where policy excludes liability for loss in connection with a claim arising out of or attributable to or in connection with any director gaining any personal profit or advantage to which he or she was not legally entitled – where exclusion subject to a proviso that it shall only apply if such profit or advantage is established by admission or adjudication in any proceedings – where appellants allege error by primary judge in finding that exclusion clause applies – consideration of meaning of personal advantage – consideration of meaning of not legally entitled – where alleged contravention of s 182(1) and s 180(1) of the Corporations Act 2001 (Cth) – consideration of United States cases regarding exclusion clause – where policy is a claims made policy – where insurer contends primary judge should have found that claim was not made in period of insurance – where demand made on the director by email notification – whether email notification received by the director within the period of insurance – consideration of meaning of received – appeal dismissed
Original article available at: https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/full/2023/2023fcafc0034
For more information, see the original judgement.
