Management Liability
Management liability insurance provides protection for unintentional errors and oversights made by company leaders in their professional capacity. These mistakes can occur in various critical business areas, including:
- Financial management
- Regulatory compliance
- Employment practices
- Workplace health and safety
- Corporate governance
Even when directors and officers exercise due diligence and caution, there is always a risk of oversight or error. Management liability insurance helps cover the costs associated with defending against claims arising from these unintentional mistakes, as well as any resulting settlements or damages.
Whether it’s fraud, harassment, wrongful dismissal, a third party crime or the costs associated with receiving a tax audit—these policies compensate your company accordingly.
Statutory liability, employee fraud, allegations of mismanagement—these issues are not only expensive to deal with, but can bring negative attention to your business. While you may feel that you can trust everyone on your team, it isn’t always about that. Many times, dishonest behaviour is not a factor. Simple mistakes can have disastrous consequences.
Northsure Insurance Brokers works with clients from all industries to ensure they have appropriate management liability insurance in place.
What Does it Cover?
Management liability insurance covers a range of factors related to directors and officers of your company. The team at Northsure Insurance Brokers can assess your business and explain your coverage in clear terms as it relates to your business framework. Some aspects covered by these policies include:
Management liability / director & officer liabilities
- Corporate liability / company reimbursement
- Employment practices liability (EPL)
- Statutory liability / fines & penalties (including Work, Health & Safety)
- Crime protection
- Tax audit costs
- Inquiry / prosecution / crisis costs
- Identity fraud expenses
- Pollution defence costs
So, whether you’re looking for protection against employee dishonesty and crime, or coverage for employment claims made against you—these policies are ideal. Losses resulting from claims of wrongful acts by management can be quite significant, and can require a lot of time and money to fight.
Northsure Insurance Brokers will source the perfect coverage to suit your business needs and give you peace of mind.