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Don't be at risk

When you’re running a business, you may be personally liable for any actual or alleged breaches of the Corporations Act. And it’s not just large companies that are exposed – small and medium business owners and officers could be at risk as well.

Management liability insurance covers the costs of defending directors, managers and employees against any claims that are the result of their actions or decisions.

“The likelihood of a claim that could be covered by a Management Liability policy has tripled in the last five years. With 50% of notifications resulting in a claim”
- Chubb 2016 Private Company Risk Survey

Management Liability Insurance policies can cover the following:

Covers payouts for claims of employment breaches, such as wrongful dismissal,
bullying or discrimination.

Protects your proprietary limited company’s past, present and future directors, officers
and managers against claims of wrongful acts, such as misrepresentation or breach of
duty (subject to business size).

Protects your business against claims such as employee or third party fraud (not all
criminal activity is covered).

Covers costs that your business would incur if you need to defend and settle claims
from outside parties alleging wrongful conduct, as well as investigation into the affairs
of the company.

Covers the cost of defence, fines and penalties under some statutes e.g. Work Health
and Safety (fines under Work Health and Safety cannot be covered by insurance in
NSW).

Covers your legal costs if your business ends up in court.

Did you know?

(Chubb 2016 Private Company Risk Survey)

(Chubb 2016 Private Company Risk Survey)

(Chubb 2016 Private Company Risk Survey)