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Bespoke Insurance Group

C-02Professional & management

Management Liabilityinsurance.

Cover for the business and its managers against the risks of running a company.

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C-02 · Elevation

01 · The exposure

Running a company carries risks that are not on the balance sheet.

Management liability insurance is designed for private companies and not-for-profit organisations. It typically combines several sections: directors and officers liability, company liability, employment practices liability, statutory liability, crime and, in some cases, tax audit. It responds to the risks that come from managing a business, rather than from operating it.

02Scope

What this covercan respond to.

A general guide. What a particular policy covers depends on its wording, limits, conditions and exclusions, and on what is declared to the insurer.

  1. 01Claims against directors and officers for wrongful acts in managing the company
  2. 02Employment practices claims such as unfair dismissal, discrimination and harassment allegations
  3. 03Defence costs for regulatory investigations and statutory breaches, and fines and penalties where insurable
  4. 04Employee theft and some forms of fraud, under a crime section
  5. 05Professional fees for a tax audit, where included
Often discussed byPrivate companiesFamily businessesNot-for-profit organisationsGrowing businesses with employees

03What we look at

Where the detailmatters.

  • Employment practices exposure

    For many small and medium businesses, employment-related claims are the section most likely to respond. Even an unfounded claim can be costly to defend.

  • Crime and social engineering

    Fraudulent payment instructions and invoice redirection are common. Check whether, and to what limit, your crime section responds to them.

04 · Before we talk

Questions yourbroker will ask.

Having these answers to hand makes the first conversation faster and the submission to insurers stronger.

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  1. How many employees do you have, and where are they based?
  2. Have there been any employment disputes or regulatory notices?
  3. What financial controls are in place for payments?
  4. Is the company in a sound financial position?

05 · Questions

Frequently asked.

Is management liability the same as D&O?

D&O is usually one section of a management liability policy. Larger or listed companies often buy D&O as a standalone policy instead.

Related cover

Commonly part of programs for professional services and small & medium business.

Talk management liabilitythrough with a broker.

A short conversation is usually the fastest way to know where you stand. No obligation, and no form required if you would rather call.

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Or call 1300 513 652, answered 24/7