When a breach of company law or regulation is alleged, the focus will be on your conduct as a manager and as a company.
Management Liability Insurance protects the individuals and the company in relation to the exposures associated with managing a company.
A Management Liability policy covers claims made against the company itself as well as for claims made against the company’s directors and officers. This cover is particularly important for directors who are also owner/shareholders of a company.
The key elements to the cover are as follows:
Directors and Officers:
Covers the Directors and Officers (including where the Company can reimburse the directors) for any claim alleging a Wrongful Act by a Director or Officer.
Covers the Company where there is a claim against the entity lleging wrongful acts.
Covers the Company for claims alleging employment breaches including wrongful dismissal, discrimination, harassment, deprivation of career opportunity, breach of contract and the like.
For trustees of a staff superannuation fund.
Covers the company for theft by its employees.