Management Liability Insurance
Protection For Your Most Valuable Asset
Private companies and their directors continue to face greater corporate governance and regulatory surveillance of the management of their business activities.
In response to perceived inadequacies of traditional Directors and Officers Liability policies for private companies’ insurance companies have responded with Management Liability Insurance policies. These policies not only protect the personal assets of the directors of the company but also protect the company’s balance sheet against claims of mismanagement.
While each insurer’s Management Liability product is different they will generally provide the following covers:
- Directors & Officers Liability
- Corporation (Entity) Liability
- Employment Practices Liability
- Superannuation Technology Liability
- Corporation Crisis (Public Relations cost) Cover
- Statutory Fines & Penalties Cover
- Fidelity/Crime Cover
Not only will the insurer generally manage the defence of the claim on your behalf they will advance the cost of your defence. This is of great benefit as while you have access to the expertise of some of Australia’s best legal firms to protect your reputation your balance sheet and cash flow will be protected.
Need guidance on the type of commercial insurance product or service that’s best for you? Talk to our broking teams today – Call us on (03) 9691 2222
Key Benefits Of Using McKenzie Ross
High level assurance that risks are transferred where intended.
A greater understanding of the risks retained in your organisation, some of which may require alternative management methods.
A formal process of risk identification that demonstrates good corporate governance to stakeholders.
Linkage between insurance and your organisation’s overall process for risk management.
Enhanced ability for ‘insurable’ risk to be transferred to insurance markets in the best possible light by demonstrating sophistication in identification and analysis.