What Is Management Liability Insurance?

Designed to protect a company against financial losses in the event of a claim from a third party, Management Liability is a significant investment for business owners.

Owning and/or running a company leaves you financially exposed in the event of unpredictable and potentially large allegations of misrepresentation or failure to meet your duties. Covering the company and its employees from actions; mistaken or deliberate, should you need to defend, settle, or pay a claim.

Management Liability Insurance can protect Directors and Officers for legal liability they may incur personally in managing a corporation, it also extends to the corporation itself for certain types of claims.

Cover is available nationwide for businesses of any size.

Claim Example

The purchaser issued proceedings in VCAT against the vendor and our agent insured. The main allegations against the Insured is that they allegedly represented to the purchaser that the auction was not conducted on a GST exclusive nature and the purchaser was led to believe that he did not have to pay an additional sum of $48,000.

The claim settled out of court for $48,000. The Insured’s contribution was $30,000. The legal costs incurred were $10,000. Both the legal costs and the insured’s contribution were covered by the policy.