Management Liability Insurance
Fundamental to managing a company is the management of risk. Unfortunately, even the teams you hire to help manage your company can unexpectedly become or create liabilities through acts of mismanagement or misconduct. This can create serious problems for your business.
The legal, financial and time costs to defend alleged wrongful acts by an employee can have devastating consequences on a company and an owner’s personal assets. Without appropriate insurance in place, owners can risk losing their business and personal assets.
Management liability insurance is designed to protect you, and your company, against the inherent risks of running a company, including mismanagement, legal liabilities and statutory obligations. The best management liability insurance protection provides broad coverage to protect your company from acts by directors and officers, and also against acts by employees and other third parties.
We recommend management liability insurance as a “must have” policy for any company, association or partnership. Our management liability insurance packages protect you against a detailed list of management liability risks including:
- Directors and officers, which covers individuals employed by the company for legal defence costs and damages following an actual, or alleged, wrongful act in managing a company.
- Corporate liability, which covers the company against legal defence costs and damages following an actual, or alleged, wrongful act.
- Employment practices liability, which covers individuals, or the company, for legal defence costs and damages due to an actual or alleged breach of a past, present or future employee’s employment arrangements.
- Crime, which covers the company against fraudulent or dishonest acts by an employee or third-party individual.
- Statutory liability, which covers individuals and the company for investigation costs and/or fines and penalties imposed by a government authority.
Safeguard your liability of potential mismanagement with our management liability insurance. Contact us today to discuss how we can help.
Avid Insurance Pty Ltd ABN 72 607 039 636 is an Authorised Representative AR No 1233867 of PSC Connect Pty Ltd ABN 23 141 574 914 AFS License No 344648