Management Liability Insurance UK Explained
In an increasingly complex world, management liability insurance can offer comprehensive cover operating a business
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Management Liability Insurance Explained
Compare insurance designed for private companies and limited liability partnerships
Management Liability Insurance FAQs
- What is management liability insurance?
- Who needs management liability insurance?
- What does management liability insurance cover?
- Why purchase directors & officers insurance?
- Why purchase employment practice liability?
- Why purchase corporate legal liability?
- Why purchase crime insurance?
- What additional covers are available?
- How to compare management liability quotes?
Plus, there are a number of additional protections that can be purchased under the same policy. Below we take a closer look at the covers available under management liability insurance and some key considerations.
What is management liability insurance?
Who needs management liability insurance?
Civil, regulatory and criminal allegations made against individuals and/or the company can cause significant distress, as well as being very costly and time consuming.
Management liability insurance has not always been purchased by small businesses, but has become increasingly important in a litigious environment to protect against losses the company is unable to sustain.
What does management liability insurance cover?
Each insurer's standard management liability offering can vary, and the terminology may alter, however the broad covers are comparable under the below sections:
Management liability insurance definitions can vary, therfore it's worth considering the terms and features to consider what cover best meets your needs.
Why purchase directors & officers insurance?
The law generally seeks to protect individuals from personal liability where they have acted in good faith and complied with their responsibilities. However, any director, partner or employee acting in a managerial capacity on behalf of the company that fails to meet their legal obligations can be held personally liable.
Why purchase employment practice liability?
Dealing with employees can be highly emotive and if internal procedures aren't followed, you can leave yourself open to successful employment tribunal claims. With greater employee awareness of their rights and how to exercise them, the cost and resource to defend employment disputes can cause significant disruption.
Why purchase corporate legal liability?
Corporate legal liability is similar to D&O insurance but will defend claims made against the company as opposed to individuals. Breach of contract, copyright infringement and corporate manslaughter are typically covered. Corporate legal liability can only be purchased in conjunction with D&O Insurance.
Why purchase crime insurance?
Companies with inadequate controls are often the target of sophisticated criminal networks and disgruntled employees. Crime insurance can offer valuable protection against damaging criminal behaviour. Employee theft is the standard cover offered under crime insurance. However, some insurers have expanded this section to include cover for social engineering fraud.
What additional covers are available?
Additional management liability covers can include:
How to compare management liability quotes?
At get indemnity we are specialists in management liability insurance. To obtain your quotes please complete our online application and we can typically offer a selection of quotes in less than 48 hours.
If your business has a low to medium hazard exposure (typically viewed as being financially stable and not operating within a high-risk industry class) competition remains high with improvements in cover and reduced premiums available.
This guide is for information purposes and based on sources which we believe are reliable, the general risk management and insurance information is not intended to be taken as advice with respect to any individual circumstance and cannot be relied upon as such.