Management Liability Insurance is designed to protect the directors and officers of a company against risks and exposures of operating and running the company. It specifically focuses on the cover around inadvertent mismanagement.
Without adequate and appropriate levels of cover the company and its directors could be at risk of losing assets, personal assets and the business. This insurance therefore protects you personally and therefore your wealth and lifestyle.
The legal costs to defend allegations of wrongful acts alone can be time-consuming and financially crippling for businesses and individuals.
Typically this policy will protect the directors and management against actions such as:
- OH&S fines and penalties
- Unfair dismissal
- Workplace Bullying
- Unintended mismanagement of the business by a director
The next Step
Call any of the Professional Indemnity specialists at Triple T to assist with obtaining a quotation. In most instances a proposal will be required as part of this process.