Examples of different areas that can be covered
- Breach of customs legislation
- Breach of liquor licensing legislation
- CEO’s son kidnapped
- Construction company fails to meet standards
- Death of construction employee
- Defamatory email contents
- Disability discrimination
- Employee negative social media comments
- Excess wage payments
- Extortion threat against employee
- General protection for things such as redundancy
- Harassed office employee
- Inappropriate interview
- Minority shareholders
- Misleading website statement
- Negligent claim
- Negligent consulting advice
- Payroll fraud
- Racial discrimination
- Sales on the side
- Stock theft
- Tax audit
- Third party discrimination
- Trust account fraud
- Unfair dismissal
- Workplace health & safety claim
Thanks to Chubb Insurance Company of Australia Ltd for this list derived from actual cases.
Management liability insurance protects you and your company against the risks and exposures of running the company (i.e. your liability for mismanagement). We recommend that all of our clients have some form of management liability insurance.
What is management liability insurance?
Management liability insurance protects you and your company against the risk and exposures of running the company. Without protection you could run the risk of losing your business and personal assets.
Directors and officers face both personal and corporate liabilities in managing a company and can be held personally liable.
The legal costs of defending any allegation of wrongful acts can be huge and can financially cripple you and your business.
What is the difference between professional indemnity insurance and management liability insurance?
The purpose of professional indemnity insurance is to respond to claims in respect of the professional/specialist services/advice you provide. Management liability is about the act of running a business rather than the actual activities of the business.
Who can bring action against you?