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Management Liability

What is Management Liability insurance?

Management Liability protects the individuals and the company in relation to the exposures associated with managing a company. The key elements to the cover are as follows:

Directors and Officers: covers the Directors and Officers (including where the company can reimburse the directors) for any claim alleging a Wrongful Act (negligence, breach of duty, misrepresentations) by a Director or Officer

Company Cover: covers the Company where there is a claim against the entity alleging wrongful acts

Employment: covers the Company for claims alleging an employment breaches including wrongful dismissal, discrimination, harassment, deprivation of career opportunity, beach of contract etc

Trustee: for trustees of staff superannuation fund

Crime: covers the company for theft by its employees

Types of claims you or your company could face:

  • breach of directors’ or officers’ duties.
  • breach of fiduciary duty.
  • defamation.
  • breach of the Trade Practices Act, and other statutes.
  • occupational health and safety proceedings.
  • infringement of intellectual property rights.
  • breach of confidentiality.
  • allegations of illegal or improper conduct

What are Management Exposures?
A company and its directors face both personal and corporate liabilities from numerous stakeholders including the following:

  • Shareholders
  • Employees
  • Competitors
  • Creditors
  • Regulators
  • Customers
  • Liquidators / Administrators

When a breach of company law or regulation is alleged, the focus is on your conduct as a manager and as a company. You may think a claim is completely baseless or without merit, but it will still cost time and money to defend successfully.

For further information including Claims Examples, please download our Fact Sheet. 

 Management Liability  

 

Should you require an obligation free quotation for Management Liability Insurance or wish to discuss the this insurance further, please contact your Austbrokers Risk and Insurance Services Account Manager on 1800 AUSTBROKERS (1800 287 827) or click below to request a call back at a time convenient.

Request a Call back

 

 

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