Management Liability Insurance

Directors & Officers Liability

Directors & Officers Liability protects past, present and future directors and officers in your business. It also covers anyone else involved in the management of a company, including employees. The D&O section of a Management Liability policy is designed to help protect you against claims made, relating to:

• Fraud or Breach of Fiduciary Duty

• Engaging in Unfair Competition

• Misappropriation of Trade Secrets

• Insolvent Trading (note, insurers require a copy of Financial Statements before extending cover)

• Manslaughter

• Intellectual Property Breach

Entity Liability

Entity Liability provides cover for actions arising from managerial matters. When choosing a Management Liability or even a stand-alone Directors & Officers Liability policy, we recommend checking the policy offers both D&O and Entity Liability as most claims that are made against a director and/or officers will typically be brought against the company first. The Entity Liability section of a Management Liability policy is designed to help protect you against claims made, relating to:

• Wrongful Act including Fraud

• Shareholder Dispute

• Unfair Treatment of Shareholders

• Environment Prosecution

• Breach of Contract

• Accidental Death

• Identity Fraud

Statutory Liability | Occupational Health and Safety Defence Costs

Statutory Liability Insurance is a specialist insurance policy that covers your company, senior management and employees (past, present and future) for allegations of wrongful breaches of key legislation during the course of business operations. The Statutory Liability section of a Management Liability policy is designed to help protect you against claims made, relating to:

• Defence costs associated with alleged breaches of the Building Act, Consumer Guarantees Act, Fair Trading Act, Privacy Act and most other statutes affecting commercial activities. The notable exceptions are police prosecutions and taxation legislation.

• The costs of representation at an investigation or inquiry.

• Any fine or cash penalty payable by the insured following conviction for an offence under the insured statutes, except under the Health & Safety in Employment Act.

Employment Practices Liability (EPL) | Crime

Employment Practices Liability (EPL) insurance provides cover for employers when employees bring actions relating to discrimination, unfair dismissal, sexual harassment and bullying. Claims can be brought by prospective, past or current employees regardless of whether they have been employed on a full-time, part-time or casual basis. The Employment Practices Liability (EPL) section of a Management Liability policy is designed to help protect you

• Legal defence costs, damages and other costs required to settle the matter, up to the EPL policy sub-limit.

Employment Practices Liability (EPL) will not cover losses relating to the underpayment of wages or failure pay employee benefits (such as redundancy or superannuation) as the employer is legally responsible for these.