If you have a small to medium sized private company, you could be protected by a policy that covers claims from a wide range of management liabilities, such as; directors and officers liability, company reimbursement, employment practices liability, Statutory Fines & Penalties, Occupational Health & Safety Defence costs and much more.
The Management Liability policy is designed to cover a businesses Directors & Officers against a wrongful act committed during the course of your business operations.
Below is a brief explanation on each of the key sections of cover within a Management Liability policy:
Directors & Officers Liability
Covering the directors & responsible officers personally against actions arising from their negligence whilst performing their duties in respect to the various state and federal acts like the Corporations Act, Occupational Health & Safety Act, Fair Work Act, Trade Practices Act etc
Covering the business entity against alleged negligence from the various federal and state acts & laws
Employment Practices Liability
Covering the business against actions brought against it from employment disputes i.e. unfair dismissal, sexual harassment, workplace bullying, failure to promote, racial discrimination etc.
Covering the business against the financial loss arising from theft, embezzlement, misappropriation of funds etc by an employee of the company.
Statutory Fines & Penalties
Covers the company & its directors or responsible officers against statutory fines and penalties which may be imposed due to their negligent actions whilst performing their duties.
Contact the team at Ascot Insurance Group to have an in depth discussion on how a Management Liability insurance policy can help protect you and your business.