Features of a Management Liability Insurance Policy typically include:

Directors and Officers Liabilities protects the past, present and future directors and officers plus anyone else involved in the management of a company for claims alleging a wrongful act and for which the company does not grant indemnification to such person. Employees can also be covered.

Claims Examples

  • Unfair competition
  • Fraud/Breach of fiduciary Duty
  • Misappropriation of Trade Secrets
  • Insolvent Trading
  • Manslaughter

Corporate Entity Liabilities are extremely relevant for companies that are owned by the directors by providing cover to the company for actions arising from managerial matters. A claim against the company will cause the same financial hardship to the owner; therefore this cover is extended to provide protection to the company. Many of the same claims against the directors and officers will, typically, be brought first against the company.

Claims Examples

  • Wrongful Act/Fraud
  • Shareholder Dispute
  • Shareholder Employment

Employment Practices Liabilities provides cover to the company, directors, officers and employees for claims made by current, past and prospective employees for issues arising from employments practices, including harassment, unfair dismissal and other employment issues.

Claims Examples

  • Bullying/Harassment
  • Unfair Dismissal
  • Discrimination

Statutory Liabilities covers named individuals and the company for fines and penalties from operating the business including fines related to workers compensation and occupational health & safety.

Claims Examples

  • Occupational Health and Safety Penalties
  • EPA and Pecuniary Penalties
  • Other Pecuniary Penalties (Civil Penalties)

Legal Representation Costs that are incurred by directors/officers and the company for attendance at official investigations or inquires are covered.

Claims Examples

  • ASIC Enquiry

Other Covers – Tax Investigation/Public Relations/Crisis Containment are management exposure’s that can also be insured against under management liability insurance, to reimburse the company for certain costs incurred during a tax investigation by the ATO or to engage professional assistance in a crisis.

Claims Examples

  • Taxation Investigation
  • Public Relations
  • Crisis Containment

Crime Cover is a comprehensive crime section provides cover to the company for loss arising from dishonest acts such as theft and fraud by employees including theft of stock.

Claims Examples

  • Theft by Employee
  • Theft of Inventory
  • Theft by Contractor/Consultant