Management Liability

When you're running a business, you may be personally liable. Management liability covers the costs of defending directors, managers and employees against any claims that are the result of their actions or decisions.

Who should consider Management Liability protection?

It's not just large companies that are exposed - small and medium business owners and officers could be at risk as well

The most common claims are for employment practices like bullying, harassment and wrongful dismissal.

If you are faced with unexpected liability costs, management liability insurance can protect your business and personal assets, such as your home, from being sold to cover the cost of paying claims.

Why is it important?

What can it cover?

Management liability insurance policies vary in the benefits they provide. To give you an idea, here's the type of cover that your policy may include

Case Study

Scenario: A former employee claims they were wrongfully dismissed from your business because they were unwell at the time their position was terminated. They want to be reinstated to their role and remunerated for their loss of income while they were out of work. The matter is brought before a court and you have to pay damages to your former employee.

Outcome: A Management Liability policy allows you to recover some or all of these costs so you can continue to run your business without having to sell your business or personal assets. Depending on your policy, you may be able to make a claim for your legal defence costs, as well as the amount paid to your former employee.

*Disclaimer: The information contained in this case study is used only for the purpose of illustration. Individual circumstances, insurance and coverage may vary.

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