Management liability insurance protects against personal liability for any actual or alleged breaches of the Corporations Act. SHC Insurance Brokers is increasingly the builders' and developers' partner of choice for commercial solutions, including management liability insurance and business management insurance.
About management liability insurance
Management liability insurance covers the costs of defending directors, managers and employees against any claims resulting from their actions or decisions.
What management liability insurance covers
Management liability insurance provides protection for:
Type of cover
Potential benefits
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, VIC & WA).
Government Inquiry costs
Covers you for the cost of representation at government inquiries.
Defence costs
Covers your legal costs if your business ends up in court. This cover only operates when the underlying claim is covered by the policy.
Who should consider management liability insurance?
Management liability insurance is recommended for all businesses, regardless of size.
Get covered with confidence
Get in touch with an insurance specialist today to talk about professional indemnity insurance covers, including public liability insurance.
