Over the last couple of years, we’ve noticed legal proceedings concerning negligence and / or breaches of legislation occurring more frequently. As a business owner, you’re exposed to significant legal defence costs and fines. Even if you’ve done nothing wrong, you can still be required to pay legal expenses to defend yourself if a disgruntled employee brings a case against you.
Management liability insurance is designed to protect companies from the expenditure involved in defending their business and payouts / fines that may be awarded.
Management Liability covers a broad range of areas. Key sections include issues pertaining to OH&S, Employment Practices, Employee Crime, and Statutory Liability. To help you develop a better understanding of this insurance, one of our insurance partners have provided a few real claims examples below.
If you would like to discuss Management Liability insurance in more detail, please give us a call.