Every business has customers, clients, creditors, competitors and employees – and the more there are, the greater the risk. In addition, the red tape and compliance requirements associated with government legislation and the ongoing threat of a legal claim against you, your practice, directors and managers, is a risk that can’t be overlooked.
Management liability insurance is, without doubt, crucial for your business’ survival.
Management Liability insurance will generally cover exposure tot the following risks:
- Employment Practices – Protection against claims resulting from employment
practices including the common claims of harassment and unfair dismissal.
- OH&S Investigations and Defence Costs – Protects the business entity and the directors against costs associated with Occupational Health and Safety and investigations relating to workers compensation.
- Breaches of Legislation – This is designed to protect against suspected or actual breaches of legislation that contradict the business’ compliance requirements.
- Crime – This protects the business against dishonest acts by employees, which may include theft of money or stock.
In today’s litigious society, even small mishaps and disputes can lead to considerable lawsuits. The answer is the Professional Essentials Management Liability insurance.