Management Liability Insurance is important for all businesses, regardless of size.
Management Liability insurance can help protect your business against claims arising from mistakes or deliberate actions – including fraud – from the company or its directors, officers or employees – both past and present.
It can cover the cost of investigating, defending and settling claims by a third party, as well as paying compensation the business is liable for.
Management Liability insurance is made up of a suite of cover options that helps defend your personal liabilities as a manager or director of a business. It also helps protect the business itself from liabilities arising from your interaction with a variety of stakeholders.
There are over 650 individual legislative provisions in force in Australia at present, which has resulted in increasing responsibility and accountability for directors and officers in both public and private companies.
Without cover, directors and officers risk being exposed to personal financial liability for alleged wrongdoing in their capacity as a director and officer of a company.
Management Liability Insurance offers protection if a claim arises, covering costs such as:
BRIC, as a company of Honan Insurance Group Pty Ltd is now fully owned by Marsh Pty Ltd. To find out more, speak to your broker or read the announcement