What is Management Liability Insurance?
Management Liability protects the individuals and the company in relation to the exposures associated with managing a company.
When a breach of company law or regulation is alleged, the focus is on your conduct as a manager and as a company. You may think a claim is completely baseless or without merit, but it will still cost time and money to defend successfully.
Directors & Officers
Covers the Directors and Officers (including where the company can reimburse the directors) for any claim alleging a Wrongful Act (negligence, breach of duty, misrepresentations) by Director or Officer.
Covers the Company for claims alleging an employment breaches including wrongful dismissal, discrimination, harassment, deprivation of career opportunity, breach of contract, etc.
Covers the Company where there is a claim against the entity alleging the wrongful acts.
For trustees of staff superannuation fund.
Covers the company for theft by it's employees.
Why do you need management liability?
- The exposures associated with managing a business are the vast and numerous and it is often the one exposure that is not addressed in insurance programs.
- All companies insure the tangible exposures of property damage and bodily injury, however the key economic exposure of the ‘management risk’ has often remained uninsured.
What are management exposures?
A company and it’s directors face both personal and corporate liabilities from numerous stakeholders, including: Shareholders, Employees, Competitors, Regulators, Customers, Liquidators / Administrators, Creditors.
Management Liabilities – Recent Claims Examples
Cyber Liability Insurance?
You don't need to be operating a technology business to think about cyber liability insurance. The fact is, Cyber Crime can affect every business and you need to be adequately protected in case it happens. Watch the video to find out why your business needs to be protected.
Find out more by reading the Norton and Steadfast insights reports below.