Management Liability Insurance
Management liability protects businesses from litigation claims from various parties.
Is management liability insurance right for me?
Management liability insurance is a safeguard against litigation instances from minority shareholders, unfair dismissal claims, and creditors. It also covers the management team from litigation claims made by State and Federal regulation bodies, such as the Australian Tax Office.
What is entailed in a management liability insurance policy?
Management liability insurance provides continuous cover against liability claims. Furthermore, such a policy will also include:
Directors and officers liability
Corporate legal liability
Employment practices liability
Statutory liability
Tax audit
Crime/Fidelity
REAL CLAIMS. REAL IMPACT.
Real Management Liability Claims We've Seen Across Australian Businesses
Management liability claims aren’t limited to large corporations. From employment disputes to regulatory investigations, these examples show how quickly legal costs and settlements can escalate.
Employment Practices Claim
Plant Hire Business
The Situation
An employee alleged workplace bullying and sexual harassment before lodging complaints with SafeWork.
Potential Cost
Policy Response
Legal defence costs plus settlement covered.
Director Investigation
Property Development
The Situation
The Australian Taxation Office commenced an investigation into directors and associated family members.
Potential Cost
Policy Response
Investigation costs covered under the policy.
Employee Theft
Wholesale Distribution
The Situation
A senior employee misappropriated company funds over several years before the business discovered the fraud.
Potential Loss
Policy Response
The crime section responded together with the investigation expenses.
WHS Investigation
Civil Construction
The Situation
A workplace incident triggered a SafeWork investigation and subsequent legal proceedings.
Potential Cost
Policy Response
Defence costs and settlement expenses covered.
One claim can cost far more than the annual premium.
Speak with the management liability specialists at Global Insurance Solutions to review your current cover before a claim occurs.
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Get in touch with us today to find out more about how we can help you
We are well across all aspects of management liability, and are best placed to provide you with a tailored, packaged solution to your litigation needs. Get in touch by calling