What is Management Liability
The purpose of management liability insurance is to protect the assests of a company against management claims by shareholders, employees and governement agencies for dishonest and/or negligent actions from directors, management and employees.
Management Liabilty Insurance covers both the company or its directors in this regard. The key elements to the cover are as follows:
Employment - Covers the Company for claims alleging an Employment breach including bullying, wrongful dismissal, discrimination, harasment, deprivation of career opportunity, breach of contract etc
Crime Fidelity - Covers direct financial loss caused by dishonest acts resulting in Loss of Money, Securities or other Tangible Property owned by the Company or in their care, custody and control or for which the Company is legally liable.
Statutory Liability - Covers penalties which an organisation is required to pay by reason of an order of any Regulatory Authority such as those arising from Occupational Health and Safety breaches.
Company Cover - Covers the Company for a claim against the entity alleging wrongful acts
Directors & Officers - Covers the Directors and Oficers for any claim alleging a Wronful Act (negligence, breach of duty, misrepresentation) by a Director or Officer.
We can tailor a Management Liability insurance policy for you by choosing from the wide range of business insurance products we have available.