Management Liability Insurance

Protect past, present and future directors and management of your company.

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Management Liability Insurance Details

Protection for your Most Valuable Asset

Any business can experience unwelcome surprises that could potentially threaten their financial position. As a director or officer, you may be exposed to personal liability further threatening the future success of the business.

Increased regulation has heightened the operating risk for businesses of all sizes. Management Liability insurance is specifically designed to protect private companies and their directors. It’s more comprehensive than traditional directors and officers insurance, as it protects both the financial wellbeing of the company, and the personal wealth of its directors and officers.

While each insurer’s management liability product is different they will generally provide the following covers:

Different Insurance Covers Available:

Directors & Officers Liability

Will protect the past, present and future directors and officers, plus anyone else involved in the management of a company, for claims alleging a wrongful act, for which the company does not grant indemnification to such person. This can also cover employees.

Claim examples:

  • Unfair Competition
  • Fraud/Breach of Fiduciary Duty
  • Misappropriation of Trade Secrets
  • Insolvent Trading
  • Manslaughter

Corporation (Entity) Liability

This is extremely relevant for companies owned by the directors, as it provides cover to the company for actions arising from managerial matters. Many of the claims made against the directors and officers will, typically, be brought first against company, which is why this cover is extended to provide protection to the company, as well as the directors.

Claims Examples:

  • Wrongful Act/Fraud
  • Shareholder Dispute
  • Shareholder Employment

Employment Practices Liability

Provides cover to the company, directors, officers, and employees, from claims made by current, past or prospective employees for issues arising from employment practices, including harassment, unfair dismissal and other employment issues.

Claim examples:

  • Bullying/Harassment
  • Unfair Dismissal
  • Discrimination

Statutory Fines & Penalties Cover

Covers certain individuals, and the company, for fines and penalties from operating the business, including fines related to workers compensation and occupational health and safety.

Claims Examples:

  • Occupational Health and Safety Penalties
  • EPA and Pecuniary Penalties
  • Other Pecuniary Penalties (Civil Penalties)

Fidelity/Crime Cover

A comprehensive crime section provides cover to the company for loss arising from dishonest acts, such as theft and fraud by employees, including theft of stock.

Claims Examples:

  • Theft by Employee
  • Theft of Inventory
  • Theft by Contractor/Consultant

Crisis Loss and Public Relations Cover

Covering directors personally, and the company, for situations where an event may cause the business to suffer a decrease of total consolidated annual revenue of 30% or more. The insurer will pay for a specialist external crisis consulting team to prevent or minimise a loss.

Superannuation Trustees Liability Insurance

Covering the trustee for breach of their professional duty in the management of the company super fund.

Webber Insurance has access to a large number of local, interstate and overseas markets to ensure we find the most suitable insurance product for your business at a competitive price.

For more information about Management Liability insurance, call us on 1300 932 237, or click the button below to arrange an obligation-free quote.

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