Remuneration of Non-executive Directors
The company’s remuneration policies aim to attract and retain talented and motivated Directors who will contribute to enhanced Company performance. The Board’s policy is to remunerate Directors at a similar level to comparable Australian companies, but with a small premium to reflect the complexity of the insurance services sector. All Directors are required to own TAL shares.
The Shareholders of TAL have authorized a maximum sum of A$1,100,000 per annum as remuneration to be paid to the non-executive Directors for services rendered as Directors of TAL and its subsidiaries.
Indemnity and Insurance
TAL indemnifies directors to the maximum extent allowed by Australian law. The indemnity is set out in Regulation 34 of TAL’s Constitution.
TAL obtains Director and Officer Liability insurance to cover risks arising out of acts or omissions of Directors and employees in their capacity as such. Insurance is not provided to cover any criminal acts or omissions.
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