The responsibility of owning, operating or managing a business carries unique exposures.
Employment breaches such as wrongful dismissal, bullying, harassment or discrimination
Breaches of contract, workplace health & safety, tax audit & more
For claims made directly against a Director or Officer
Defence costs following government investigations and resulting fines
Protect your business against fraud, forgery, counterfeit currency & more
Choose your covers & limits based on your exposure
Management liability insurance aims to protect against financial risks that come with owning, operating, or managing a company.
Any actual or alleged breaches of certain legislation, contractual obligations, or other duties could leave your business exposed to serious financial losses without an insurer to defend against such claims.
As with any other form of liability or indemnity, Management Liability is designed to cover the costs of legal defence, which can very quickly run into the tens of thousands, as well as any insured costs that you are required to pay.
Essentially, every single business is exposed to certain operational risks, whether you’re a sole Director with no employees, or you run a large organisation with multiple levels of management.
Government regulations around health & safety, breaches of duty, and employee practices (among many other areas) are constantly changing in a way that could make your company liable for the actions of its Directors, Principals, Officers, or employees.
Certain industries and professions are more susceptible and open to some of the exposures that ML Insurance can cover. However, any business that employs any amount of staff does suffer the risk of certain internal issues, such as wrongful dismissal, bullying, or harassment.
Additionally, the unfortunate reality of dishonest dealings of fraud, forgery and crime continues to be a threat to many businesses from both external parties, as well as their own employees.
Any business should always consider how claims of this nature could affect both their financial position and reputation.