Management Liability Insurance
Management Liability Insurance is designed to protect you and the company against risks and exposures of operating and running the company. It specifically focuses on cover around mismanagement. It is a combined insurance product developed as a cost-effective solution for unlisted companies to purchase a number of covers in addition to the standard Directors & Officers cover.
Without adequate and appropriate levels of cover the company and its directors could be at risk of losing assets, personal assets and the business. Coverage is also extended to cover the legal costs of defending allegations of wrongful acts.
Directors & Officers
Employment practices liability
Superannuation trustees liability
Damages and claimant costs awarded against you
Defence (i.e. legal) costs
Civil fines & pecuniary penalties
Past, present & future directors & officers
The main benefit of extending the reach of cover beyond that of a traditional Directors & Officers Insurance policy is that for many Directors & Officers protecting the assets of the private company also protects significant ownership in those assets through their personal shareholding.