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Over 22 Insurance Brokers for Management Liability Insurance
Management Liability Insurance - protect your business from a wide range of risks. Talk to an insurance broker to get your business covered and to better understand your Management Liability Insurance requirements. Protect your business and operations with adequate Management Liability Insurance. Talk with your insurance broker about your Management Liability Insurance requirements. Advisr has over 22 insurance brokers from 6 different insurance brokerages who specialise in Management Liability Insurance.
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The Policy is designed to cover your legal costs and expenses if you are involved in a legal dispute or need to defend yourself against a legal dispute. The Policy includes cover for Criminal Prosecution, Employment Disputes, Property Disputes, Data Protection, Statutory Licence, Employee's Breach of Restrictive Covenants and ATO Tax Investigation protection.
Tax Audit Insurance covers a business for specified costs in the event that it is selected by the Australian Tax Office for auditing.
Management Liability insurance is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business.
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Over 6 insurance brokerage for Management Liability Insurance
More information about Management Liability Insurance
Management Liability Insurance
- Who it protects: It typically covers directors, officers, and sometimes even managers of a company. In some cases, it can also extend to protection for past and present employees.
- What it covers: It can cover legal expenses incurred defending a lawsuit, damages awarded to a winning party, and even fines and penalties (depending on the policy and local regulations).
- What it protects against: It safeguards against claims of mismanagement, such as breaches of fiduciary duty, neglecting legal compliance, or misleading investors. It can also cover situations like employee dishonesty or errors and omissions.
Here's a breakdown of what management liability insurance may typically cover:
- Legal Expenses: If a lawsuit is filed against the company or its management, the insurance can cover legal fees for defense.
- Damages: In case the lawsuit finds the company or management liable, the insurance can help cover the court-ordered compensation to the plaintiff.
- Claims: The insurance can cover a wide range of claims including:
- Employment Practices: Wrongful termination, discrimination, harassment
- Wage and Hour Violations: Failing to pay minimum wage or overtime
- Mismanagement: Accusations of mismanagement by the directors or officers
- Third-Party Claims: Lawsuits from business partners, investors, or other external parties
- Breach of Duty: Violations of legal obligations owed to the company by the management
- Fines & Penalties (in some cases): Depending on the policy, the insurance may cover fines and penalties levied by regulatory bodies for certain violations.