What is Management Liability insurance?
Posted on 09 January, 2019
Directors and officers of private companies and a company itself are exposed to liability for breaches of the duty they owe to others through a simple act, error or omission in managing a company. Management Liability insurance is policy designed specifically to protect against such risk exposures. Now cover is also available for Sole Proprietors and Partnerships which is tailored specifically to their business structures and risks.
The following are examples of possible claims:
- Breach of Directors’ or Officers’ duties
- Company or Entity breach of duties
- Employment practices liability
- Trustee liability for Superannuation fund
- Crime cover for loss of money &/or stock
- Tax investigation costs
- Statutory liability
- Occupational Health & Safety breach defence costs
For more information about Management Liability insurance coverage click on this link to our web page on this subject.