Directors & Officers (Management Liability)
At essential insurance solutions, we understand that businesses can experience a range of unwelcome surprises that could be critical to their financial position, leaving their owners and management exposed to personal liability and the business under threat.
Management Liability insurance is specifically designed to protect private companies and their directors. Management Liability insurance is more comprehensive than traditional directors and officers insurance as it protect both the financial wellbeing of the business and the personal financials of the directors and officers. Increased regulation has heightened the operating risk for businesses of all sizes. A simple act, error or omission can be enough to spark a claim against you or your company.
Cover available for Management Liability includes:
- Director & Officers Liability - Protection for any claim alleging a wrongful act, for example: misinterpretation, negligence, breach of duty by a Director or Officer.
- Employment Practices Liability - Cover for claims alleging an employment breach such as discrimination, harassment or wrongful dismissal and more.
- Statutory Liability - Provides cover for any formal investigation by a regulatory, government, professional or other authorised institution. Cover includes defence costs and any resulting statutory fine.
- Company Expenses - Provides cover for the company costs incurred in defending third party claims. Extended to provide cover for fidelity losses and tax audit costs.
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