What is Management Liability Insurance?
Management Liability cover is designed to protect key individuals against claims being made against them in the form of Directors and Officers Liability, with the option to extend the cover to protect companies by adding Employment Practices Liability and Corporate Legal Liability. Potential claimants include shareholders, customers, suppliers, employees, creditors and regulators. You can select which limit of liability you want under each section.
Typical Policies Include:
Directors' and Officers' Liability
- Wide definition of Insured Person
- Retired Directors
- Acquisition or Creation of Another Company: automatic cover for Directors of newly created or acquired subsidiaries
- Bodily Injury Defence Costs including Health and Safety Executive prosecution defence and manslaughter proceedings
- Pollution Defence Costs
- Legal Representation Expenses
- Crisis Event Management cover for use of a public relations consultancy to manage a crisis event
- Additional limits for Insured Persons in the event that all cover available to the Insured Person becomes exhausted and the company is unable to provide indemnity.
Employment Practices Liability
- Legal assistance service helpline
- No Deliberate Acts exclusion
- Wide employment practice wrongful act definition.
Corporate Legal Liability
- Defence costs for breach of contract claims
- Defence costs for Corporate Manslaughter Proceedings
- Defence costs for copyright infringement claims
- Health and Safety investigation costs
- Defence costs for pollution claims.
