Management Liability (Directors & Officers)
- what's covered
Management Liability Insurance provides protection for directors, officers and the business itself against a broad range of management and governance risks.
It typically includes cover for Directors’ and Officers’ Liability, Employment Practices Liability, Corporate Liability, Crime, Statutory Liability and Tax Audit Costs, helping protect against claims arising from alleged wrongful acts, employment disputes, regulatory investigations, employee dishonesty and other financial risks associated with managing and operating a business.
Directors and Officers Liability
The decisions your directors and managers make carry personal risk, not just business risk. Directors and Officers Liability is the core of a management liability policy, covering the costs of defending directors and managers against claims arising from their actions and decisions in running the company.
Read more
It also helps protect their personal assets when a claim is made against them individually. For directors who are also owners, this cover matters, because a claim can reach beyond the business to their own wealth.
For full details of the Product Disclosure Statements, please contact us.
Employment Practices Liability
The employment relationship is one of the most common sources of a claim against a business. Employment Practices Liability protects your business against claims made by employees relating to their employment, including allegations of wrongful dismissal, discrimination or harassment.
Read more
It covers present, past and prospective employees, and for many Australian businesses it’s one of the most frequently claimed sections of a management liability policy. As workplace claims grow more common, this cover protects the business from the cost of defending and settling them.
For full details of the Product Disclosure Statements, please contact us.
Crime / Fidelity
Not every threat to your business comes from outside it. Crime cover, also known as fidelity insurance, protects your business against loss of money, securities or property caused by fraud, theft and other dishonest activities.
Read more
It responds to dishonesty by your own employees as well as certain third party crime, covering the direct financial loss these acts cause. For businesses handling money and valuable assets, this cover guards the balance sheet against losses that internal or external dishonesty can inflict.
For full details of the Product Disclosure Statements, please contact us.
Statutory Liability
Modern businesses operate under a growing weight of legislation, and an unintentional breach can carry real financial consequences. Statutory Liability protects your business, its executives and employees against fines and pecuniary penalties for unintentionally breaching laws and regulations in the course of business.
Read more
It covers the cost of defending a regulatory action, and where the law allows, some of the penalties that follow. Fines for deliberate or criminal conduct can’t be insured, but this cover responds to the honest mistakes that draw a regulator’s attention.
For full details of the Product Disclosure Statements, please contact us.
Corporate / Entity Liability
Claims aren’t only made against the people who run a company, they’re also made against the company itself. Corporate, or Entity, Liability protects your business against claims of alleged or actual wrongful acts by the company, as distinct from claims against its directors or officers.
Read more
It covers the costs the business incurs defending and settling these claims. Where a wrongful management claim names the company rather than an individual, this cover responds, protecting the entity’s own balance sheet from the fallout.
For full details of the Product Disclosure Statements, please contact us.
Tax Audit
An audit by a government body can be costly to manage, even when your records are in order. Tax Audit cover, usually an optional extension, covers the professional fees incurred during an official audit of your business by a government body such as the ATO.
Read more
It meets the accountant and adviser costs of responding to the audit, so a review of your affairs doesn’t become an unexpected expense. For businesses wanting certainty, it takes the sting out of the cost of being audited.
For full details of the Product Disclosure Statements, please contact us.