AACo was spending $3 million annually insuring its top brass against claims about their own actions, the most expensive item on an insurance shopping list for the cattle giant, according to leaked documents.

The directors and officers cover, which also protects companies from shareholder lawsuits, dwarfed premiums for protecting hard assets such as $495,000 on outback-station buildings and plants. It was being spent as AACo froze dividend payouts.