Management Liability Insurance

the likelihood of a claim that could be covered by a Management Liability Insurance 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

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