Protecting both the financial wellbeing of the company and the personal wealth of its directors and officers, Management liability is an extension of the traditional Directors and Officers insurance. This typically protects the personal assets of the directors and officers for any actual or alleged wrongful acts in the performance of their duties.
Increased regulation has also heightened the operating risk for businesses of all sizes. Management Liability insurance is one way businesses can help protect themselves against ‘unwelcome surprises’. Given the potential severity of these types of claims, it’s worth considering Management Liability insurance for your business.
Policy extensions can include:
- Directors and officers
- Corporate (entity) Liability
- Employment practices – unfair dismissal; sexual harassment; bullying
- Statutory fines and penalties
- Tax audit cover
- Fidelity/crime cover
- Crisis loss and public relations
- Superannuation trustee liability
- Cyber Liability