Directors and officers of a company typically face a huge amount of pressure to run it efficiently. For their business decisions, they may be liable to different stakeholders, from shareholders and clients to employees and partners.
When someone outside or within the company makes a claim against a director or officer of a company, it may lead to substantial damage to the company and huge legal costs. If you do not have proper insurance coverage, you are running the risk of losing your business, as well as, your personal and family assets.
Management Liability Insurance is created to safeguard the personal assets of officers and directors of a company against legal liabilities that can be made against them because of their business decisions.
The competent team at SD Insurance Brokers understands that without the presence of appropriate cover your business and personal assets may be at risk. This is the reason we will thoroughly evaluate your risk exposures and risk management needs first. Then, we will give you an ideal insurance solution to help you meet your business’s specific needs in the most effective manner.
Reach us at SD Insurance Brokers to learn more about how effectively we can help you protect your company against substantial losses.
The Importance of Having Management Liability Insurance
If you are on the board of a business or a private/proprietary company, you should think about having Management Liability Insurance. It is impossible to predict the probability of something unwanted happening. In the event of such an incident, the associated legal fees arising out of it can be huge. This is the reason you must ensure that you have proper cover.
Incidents because of which claims can be made against you or your company can include:
- Breach of duty
- Bullying
- Discrimination
- Defamation
- Harassment
- Fraud
- Unfair dismissal
- Theft by contractors or employees
- Occupational health and safety
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