Protect yourself and your business from claims of mismanagement
Management Liability Insurance provides protection against the financial exposures that come with managing a company, helping you defend, settle or pay compensation claims.
Private companies and their directors continue to face greater corporate governance and increasing regulatory surveillance of the management of their business activities.
When you’re running a business, you may be personally liable for any actual or alleged breaches. And it’s not just large companies that are exposed, small and medium business owners and officers could be at risk as well.
Did you know?
Many businesses think it won’t happen to them, but statistics show otherwise. In fact,
the likelihood of a claim that could be covered by a Management Liability policy has tripled in the last 5 years, with 50% of notifications resulting in a claim
the most common claims are for employment practices like bullying, harassment and wrongful dismissal
major claims by amount relate to crime – including employee fraud
Why is it Important?
If you are faced with unexpected liability costs, Management Liability Insurance can protect your business and personal assets, such as your home from being sold to cover the cost of paying claims.
Types of Cover
Management Liability Insurance policies vary in the benefits they provide. Cover can include:
Directors and Officers Liability – Covers your proprietary limited company’s past, present and future Directors and Officers against claims of wrongful acts such as misrepresentation or breach of duty
Corporate Liability – Covers costs that your business would incur if you need to defend and settle claims from outside parties alleging wrongful conduct, as well as investigation into the affairs of the company
Employment Practices Liability – Covers the Company for claims alleging an employment breaches including wrongful dismissal, discrimination, harassment, deprivation of career opportunity, breach of contract etc
Statutory Liability – Covers the cost of defence, fines and penalties under some statutes (e.g. Work health and Safety)
Trustee Liability – For trustees of staff superannuation fund
Fidelity/Crime – Covers the company for theft by its employees
Business Crisis Consultant Fees and Defence Costs – Covers your legal costs if your business ends up in court
I have been a client of Reg Leis Insurance for three years now. Reg is probably one of the most patient businessmen I have ever dealt with. If he cannot give you an answer right away, he always gets back to you with the information.
George Isaac, Zesty Edibles
Your Trusted Partners
Providing professional Management Liability Insurance solutions since 1968
As a long term family business, we understand what it takes to build a great business and we’re passionate about helping protect your business and personal assets. Our expertise covers a broad range of risks and industries, meaning you get the benefit of professional insurance and financial advice, personalised service and solutions for your specific needs.
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Alternatively you can call us on:(07) 5482 7485
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Fill out the form to arrange for one of our Experts to contact you to discuss your specific needs.