Management Liability Insurance

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:

Employment Practice Liability

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

Directors’ and Officers’ Liability

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).

Crime

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

Corporate Liability

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.

Statutory Liability

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).

Defence Costs

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

Did you know?

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)

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

(Chubb 2016 Private Company Risk Survey)

Major claims by amount relate to crime – including employee fraud.

(Chubb 2016 Private Company Risk Survey)

Business Insurance

Personal Insurance

Don't be at risk

Employment Practice Liability

Directors’ and Officers’ Liability

Crime

Corporate Liability

Statutory Liability

Defence Costs

Did you know?

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.

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

Major claims by amount relate to crime – including employee fraud.

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