Litigation concerning illegal conduct, occupational health and safety, and breach of directors’ or officers’ duties in Australia is on the increase. Often allegations made against a company’s management may be unfounded, however the cost of defence can be substantial. A Management Liability policy is specifically geared to protect you and cover your defence costs. Without the right insurance you could risk losing, not just your business, but also your personal assets.
You can be personally exposed to
|The cost of defending a claim, and any damages and costs awarded. These can be based upon an allegation of you breaching your duty as a director or officer.
|The cost of preparing for and being represented at an inquiry that you are required to attend because you serve as a director or officer.
|Pecuniary penalties that arise from you being a director or officer.
|A claim against you by another director, officer or employee arising from an employment related complaint.
|Liability whilst serving as an external director.
|Liability whilst acting as a trustee of a corporate superannuation fund.
Your company can also be exposed to
|The cost of defending a claim, and any damages and costs awarded as a result of a wrongful act.
|Theft or fraud by employees.
|The cost of investigating theft or fraud by employees.
|Pecuniary penalties imposed on the company.
The policies available through Austbrokers Comsure can cover:
|Directors & Officers
Providing coverage for legal expenses and losses incurred due to allegations made against the company.
Providing coverage for mis-management claims against the Company.
of Defense Costs
Our Austbrokers Comsure Insurance Advisers understand the risks and exposures that face business owners and directors.
We can tailor a Management Liability insurance to suit your needs. Whilst the exposures may vary for all businesses, regardless of size, your business can benefit from a Management Liability policy.
Yes. All insurance offered by Austbrokers Comsure can be paid by the month through premium funders. If you chose to use the premium funder’s service, your monthly installments will be tax deductible.
Management Liability costs are based on the size of your business and what you do. The covers they provide represent excellent value.
Claims brought against a business and directors can come from creditors, suppliers and even the government. Whilst many claims are unfounded, the cost to defend can be astounding. A Management Liability policy provides peace of mind.