Management Liability Insurance

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Management Liability Insurance

There are a multitude of risks facing small businesses in Australia today, which is where a Management Liability policy can act as a safety net for your company. New legislation is always on the horizon; workplace accidents are now subject to high statutory scrutiny, employment disputes can be expensive affairs, whilst employee theft and commercial disputes are on the rise.

A Management Liability Insurance policy focuses on the act of running a company. It will address the serious exposures risks confronting private companies and their management teams.

Owners/directors, or senior managers/officers of private companies can be held personally liable for the consequences of unintended errors arising from their daily actions, or even the actions of employees.

Claims can be brought against directors and officers from every angle. Disgruntled shareholders, customers, employees, competitors, regulators and creditors all have a legal entitlement to launch action if they feel directors and officers have not lived up to their responsibilities.

Important update - new legislation for Management Liability policy holders in VIC as of 22nd September 2022.

What Does It Cover

Directors & Officers
Cover for claims against directors and officers for any actual or alleged wrongful acts in the performance of their duties.

Corporate Legal Liability
Cover for investigations, defence and possible penalties that may be awarded for a statutory breach

Statutory Liability
Cover for investigations, defence and possible penalties that may be awarded for a statutory breach.

Employment Practices Liability
Cover for actual or alleged employment related wrongful acts by or against employees.

Employee Dishonesty
Cover for direct financial loss to the company resulting from a fraudulent or dishonest act of an employee.

Kidnap & Extortion
Cover for loss arising from kidnapping, hijacking, wrongful detention, extortion, cyber extortion and political threat.

Who Does It Cover?

Management Liability Insurance is recommended for business owners, directors, officers, or senior managers - essentially anyone within the company who makes, or participates in making, decisions that affect the whole or a substantial part of the business.

There are a multitude of risks facing small businesses in Australia today, which is where a Management Liability policy can act as a safety net for your company. New legislation is always on the horizon; workplace accidents are now subject to high statutory scrutiny, employment disputes can be expensive affairs, whilst employee theft and commercial disputes are on the rise.

A Management Liability Insurance policy focuses on the act of running a company. It will address the serious exposures risks confronting private companies and their management teams.

Owners/directors, or senior managers/officers of private companies can be held personally liable for the consequences of unintended errors arising from their daily actions, or even the actions of employees.

Claims can be brought against directors and officers from every angle. Disgruntled shareholders, customers, employees, competitors, regulators and creditors all have a legal entitlement to launch action if they feel directors and officers have not lived up to their responsibilities.

Important update - new legislation for Management Liability policy holders in VIC as of 22nd September 2022.

What does it cover?

Directors & Officers
Cover for claims against directors and officers for any actual or alleged wrongful acts in the performance of their duties.

Corporate Legal Liability
Cover for investigations, defence and possible penalties that may be awarded for a statutory breach

Statutory Liability
Cover for investigations, defence and possible penalties that may be awarded for a statutory breach.

Employment Practices Liability
Cover for actual or alleged employment related wrongful acts by or against employees.

Employee Dishonesty
Cover for direct financial loss to the company resulting from a fraudulent or dishonest act of an employee.

Kidnap & Extortion
Cover for loss arising from kidnapping, hijacking, wrongful detention, extortion, cyber extortion and political threat.

Who does it cover?

Management Liability Insurance is recommended for business owners, directors, officers, or senior managers - essentially anyone within the company who makes, or participates in making, decisions that affect the whole or a substantial part of the business.

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