As the name suggests, Management Liability Insurance protects your Directors and Senior Managers as part and parcel of their everyday working practices. It is sometimes referred to as Directors & Officers insurance.
Management Liability cover is an essential component of any commercial insurance programme. It is designed to protect directors, officers and other key employees against the costs of personal liability for compensatory damages and/or defence costs arising from actions and decisions they take on behalf of the company.
In a culture where more claims are being brought against not only firms but also individuals within a business, it is important that Management Liability insurance is in place.
Management liability insurance can cover the business against claims arising from mistakes or deliberate actions – including fraud – from the company or its directors, officers or employees – both past and present.
It can cover the cost of investigating, defending and settling claims by a third party, as well as paying compensation the business is liable for.
Commercial litigation is on the rise so protect your business – and your senior staff – with a management liability insurance policy, allowing your team to make business decisions without fear of financial consequences.
Call our insurance consultants at Insurance Connections on 01270 914660 or email [email protected]