Management Liability Insurance

Running a business comes with a range of responsibilities and potential risks, from regulatory breaches to employee claims and financial mismanagement. Even with the best intentions, directors, managers, and business owners can find themselves personally liable for decisions made in the course of running a company.

Management Liability Insurance helps protect businesses and their key decision-makers against the financial and legal consequences of allegations such as misconduct, employment disputes, or regulatory investigations. Having the right cover in place can provide peace of mind and safeguard both personal and business assets from unexpected claims.

What is Management Liability Insurance?

Management Liability Insurance protects the personal assets of Directors and Officers against legal liability that can be brought against you personally through managing a business.

Claims that can be made against you or your business could include bullying, breach of duty, discrimination, fraud, harassment, OHS, unfair dismissal etc.

Management Liability Insurance is popular for Propriety/Private companies and will typically include:

• Directors & Officers Liabilities
  Protects past, present and future Directors and Officers plus anyone else involved in the management of a company for claims of wrongful acts. Claim examples include unfair competition, fraud, manslaughter and insolvent trading.
• Employment Practices Liabilities
  Covers the company, Directors, Officers and employees for claims made by current, past and future employees. Claim examples include bullying, harassment, unfair dismissal and discrimination.
• Statutory Liabilities
  Covers individuals and the company for fines from operating the business including workers compensation and occupational health and safety fines. Claim examples include OH&S fines, environmental fines and civil penalties.
• Crime Cover
  Covers the company for loss from dishonest acts including theft and fraud by your employees.
• Corporate Entity Liabilities
  Covers the company for mismanagement allegations such as fraud and shareholder disputes. This is extremely important for companies owned by Directors involved in the business because a claim made against the company is often also made against the owner or Director. Claim examples include wrongful acts, fraud and shareholder disputes.

For each risk included in your policy, you will generally be covered for damages and claimant costs awarded against you, legal and investigation costs, civil fines and penalties and representation costs where you are legally required to attend an inquiry or investigation.