Directors and managers of businesses are increasingly under a lot of pressure to please a multitude of key stakeholders whether they be business partners, employees, shareholders or even clients.
If a business is not adequately covered with Management Liability Insurance, its Directors and Managers could be at risk of losing not just their business, but also personal assets as well.
If you sit on the board of a private organisation or indeed any business, then you should contemplate taking out Management Liability Insurance.
Management Liability is designed to protect the owner and director of a business, and anyone else who is a director of the business, from the risks and exposures associated with running a company.
This type of insurance is designed to protect the financial wellbeing of the company as well as a directors own personal wealth.
Claims against a Director or Officer or their business could include:
Depending on the cover you take, the right Management Liability policy can typically protect against some or all of these risks:
Consider the following questions and if they resonate with you then you would probably need Managament Liability insurance.
For more information or to arrange Management Liability Insurance cover for your business, please contact us and speak with one of our advisers.