Management Liability Insurance protects directors & officers and the company against the risks and exposures of running a business (i.e. your liability for mismanagement). Without adequate protection, individual directors and officers could risk losing, not only their business, but their personal assets. This insurance therefore protects you personally and therefore your wealth and lifestyle. The legal costs to defend allegations of wrongful acts alone can be financially crippling for businesses and individuals.
Management Liability Insurance is a packaged policy, designed for SME businesses with revenues of generally less than $100m. It includes directors & officers cover (including protection for the company), employment practices liability, statutory liability (fines & penalties) and crime (including employee theft) insurance. Some management liability products also cover tax audit expenses, kidnap & ransom and internet liability losses.
Austbrokers Professional Services has considerable experience in not just placing Management Liability Insurance, but also designing enhanced product offerings with our insurance partners to ensure a broad level of coverage is achieved for our clients.