Management Liability
There has never been a more challenging time to run a business. With the increasingly litigious society we live in combined with the changing regulatory environment, it is enough to keep most Company Directors awake at night.
Management Liability Insurance
Thankfully, Management Liability Insurance is designed to protect Companies and their Directors from the cost of defending actions brought against them. The following are some of the areas the Management Liability will respond to :
- Employment Practices including unfair dismissal, failure to promote / advance, etc.
- Workplace (Occupational) Health &Safety breaches
- Bullying & Sexual Harassment (within the company & to Third Parties)
- Defamation
- Discrimination
There has never been a more challenging time to run a business. With the increasingly litigious society we live in combined with the changing regulatory environment, it is enough to keep most Company Directors awake at night.
Fast, Simple and Convenient
Management Liability Insurance is not required for your business. This insurance will cover you for additional costs such as the cost of defending a legal case, replacing property that has been lost, and professional fees for audits.
What cover does a Management Liability Policy include?
– Corporate Liability
Provides protection for your Company against claims of alleged or actual wrongful acts by it (as opposed to claims being made against the directors or officers individually).
– Directors & Officers Liability
Protects Directors and Officers from losses due to claims of actual or alleged wrongful acts in their role as a director or officer (officer includes all employees).
– Employment Practices Liability
This covers the Company from claims made by employees in relation to their employment conditions, or breaches of employment laws. This can include claims alleging bullying/harassment or wrongful dismissal.
– Crime
Provides cover for your direct financial loss, as a result of theft or attempted theft from your business by an employee or through a fraudulent act committed by a Third Party.
– Statutory Liability / Fines & Penalties
This section covers the company, senior management and employees for allegations of wrongful breaches of key legislation. For example, WH&S laws (for certain jurisdictions only), Industrial Relations laws or the Privacy Act.
– Tax Audit Liability
Covers the fees and charges for an accountant or tax agent to provide the necessary financial data & reports in response to a notice from the Australian Tax Office (it does NOT cover any Tax Liability or any fines or penalties as a consequence of the audit) .