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Indemnity and insurance

The Commission holds directors’ and officers’ liability insurance cover through Comcover, the Australian Government’s self-managed fund. As part of its annual insurance renewal process, the Commission reviewed its insurance coverage in 2019–20 to ensure that the coverage was still appropriate for its operations. During the year, no indemnity-related claims were made, and the Commission knows of no circumstances likely to lead to such claims. Many liability limits under the Commission’s schedule of cover are standard Australian Government limits, such as $100 million in cover for general liability and professional indemnity, as well as directors’ and officers’ liability. The Commission’s business interruption indemnity cover is for a period of up to 24 months. Motor vehicle, third-party property damage and expatriate cover have not been taken out, as they do not apply to the Commission.