Management Liability Insurance

In this ever changing legislative environment, private companies need the comfort of a Management Liability policy written on a broad form basis to ensure they are receiving the best possible protection to their business practices.

With very few occupational limitations, and limits of indemnity available up to $10,000,000, this product is suited to all privately owned companies with revenues up to $100,000,000.

Cover includes:

• Broadform Statutory Liability:
  • Prosecutions by Regulatory Authorities
    • Monetary penalties
    • Enforceable undertakings
    • Most acts of parliament, incl: WH&S; Pollution; Transport; Spam; Privacy
• Inquiry Costs Indemnity:
• Prosecutions by Regulatory Authorities
  • Monetary penalties
  • Enforceable undertakings
  • Most acts of parliament, incl: WH&S; Pollution; Transport; Spam; Privacy
• Employment Practices Liability:
  • Employee/Employer disputes
    • Unfair, unlawful and wrongful dismissal
    • Failure to promote or employ
    • Discrimination and harassment
    • Back pay following reinstatement
• Directors and Officers Liability:
• Protecting directors’ and officers’ personal assets
  • Wrongful acts arising from discharge of duties as a director or officer
• Organisation Liability:
  • Indemnifying the organisation against Wrongful Acts
    • Claims against the organisation where they are considered an individual under the Corporations Act

Automatic extensions:

• Advance payment of legal costs
• Blanket outside directorships cover
• Continuity of cover
• Extended reporting period
• Extradition costs
• Preservation of indemnity
• Retirement of employees
• Reputation expenses

Optional extensions:

• Fidelity guarantee
• Taxation audit
• Joint ventures

Some benefits of cover:

• Available for most occupations, including transport, construction and mining risks;
• No sub-limits for any sections;
• Automatically includes all Subsidiary Companies of the named organisation;
• Broad definition of Employee, including “deemed employees” and voluntary workers;
• Indemnity for investigation and defence occurs at the point of the Notifiable Incident (defined by statute);
• Includes cover for the negotiation of and costs for an Enforceable Undertaking (unless otherwise coverable);
• Includes cover for prosecutions of employees, responsible officers, executives and the entity;
• Employment Practices Liability includes actions brought by Labour Hire personnel and applicants for employment;
• Isolated Limit of Indemnity for Directors & Officers insurance.

Learn how Peter Cameron Insurance Broker can help you:

At Peter Cameron Insurance Broker, we can provide a policy that will protect these business practices by combining four stand-alone, broad form products into a comprehensive Management Liability offering.

As a director or officer, you hold a huge responsibility to ensure you run your business effectively and look after your employees. But, should anything go wrong, it’s often out of your control. Claims can be made against you by competitors, employees, shareholders and clients. If you don’t have the right amount of coverage in place, you could potentially face financial difficulties.

Our brokers have years of solid experience to guide you through the options of management liability insurance and can help you find the best solution for your situation. The policy can extend to cover directors and officer’s liability; employment practices liability; statutory liability; crime cover; corporate entity liability; legal representation costs; tax investigation; public relations and crisis containment.

Why Is Management Liability Insurance important?

The likelihood of a claim that could be covered by management liability policy has tripled in the last five years, with 50% of notifications resulting in a claim. The size of the business isn’t necessarily a deciding factor in whether a claim is likely to be made, rather in the business interactions with internal and external stakeholders.

When thinking about the potential exposures of a business, we tend to only think about the risks associated with the products or services that businesses provide. However, due to highly regulated and controversial business environments, it’s extremely important to consider liabilities that may arise from managing a business.

At Peter Cameron Insurance Broker, we can help protect you and your business against such exposures through management liability insurance. We’ll ensure you’re aware of the potential risks that may stand in your way and how you can protect yourself and your business against legal liabilities.

How confident are you that your Insurance Risks are adequately covered?

Peter Cameron Insurance Broker aims to arrange the most appropriate cover for you by providing tailored solutions to suit your business needs. We will also support and assist you, in the event of a claim.

Speak to us to ensure your business is protected with appropriate Management Liability insurance today.

*Please note all insurance policies have exclusions. Please refer to the Product Disclosure Statement or Policy Wording before deciding whether the insurance policy meets your needs.

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