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Member, Beacon International Group, Ltd.
The New South Wales Law Reform Commission said that it would overhaul laws that make it difficult for insurers to reimburse company directors for legal defense costs under their insurance policies, The Australian Financial Review reported. The review would remove a drafting error to the original insurance laws on third-party claims. "Directors were saying that their insurers were having difficulty forwarding their defense costs – one of the things we've done is to fix that problem," said Alan Cameron, chief of the commission.