Directors and officers
Consider allegations against individuals and when the company can or cannot indemnify them.
COMMERCIAL INSURANCE SOLUTION
Management liability insurance
Management decisions can expose the company and its people to allegations, investigations and defence costs. We review management liability as a package of connected covers.
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WHO IT MAY SUIT
Privately owned companies, directors, officers, trustees, office holders and management teams.
A typical policy may combine directors and officers, company liability, employment practices, statutory liability and crime sections. Each section has its own definitions, limits and exclusions.
WHAT WE REVIEW
- 01Entity and ownership structure
- 02Directors, subsidiaries and acquisitions
- 03Employee numbers and locations
- 04Financial position and debt
- 05Prior claims, disputes and investigations
- 06Crime and payment controls
PRACTICAL COVER REVIEW
One policy can contain several different liability sections.
The shared aggregate limit, defence costs, excesses and sublimits determine how the cover may respond across the company and its decision-makers.
Employment practices
Review claims involving dismissal, discrimination, harassment and other workplace allegations.
Statutory and crime
Check investigation costs, fines where insurable, employee crime and social-engineering treatment.
WHY THE DETAILS MATTER
Structure matters as much as the headline limit.
Name the right entities and people
Related entities, subsidiaries, trustees and past directors may require attention. Acquisitions or ownership changes should be disclosed before cover is assumed.
Understand the aggregate
Different sections may share one total limit. A significant employment, statutory or crime matter can reduce what remains available for another claim.
Check financial and insolvency exclusions
Insurers may request financial statements and apply restrictions where a company is under pressure. Accurate disclosure is essential.
Notify circumstances early
Management liability is commonly written on a claims-made basis. Complaints, demands, investigations and known circumstances may need prompt notification.
Cover is subject to insurer acceptance, the policy schedule, applicable policy wording or Product Disclosure Statement, limits, conditions and exclusions. This information is general and does not take into account your objectives, financial situation or needs.
COMMON QUESTIONS
Questions about management liability insurance.
These answers are general. The quotation, schedule and policy wording determine the cover offered.
Is management liability the same as directors and officers insurance?
Directors and officers cover is usually one part of a broader management liability policy for private companies. The package may include entity, employment, statutory and crime sections.
Can employment disputes be covered?
Employment practices sections may cover certain allegations and defence costs, subject to the wording, excess, exclusions and who is bringing the claim.
Are regulatory fines always covered?
No. Cover depends on the policy, the type of penalty and whether it is legally insurable. Defence and investigation costs may be treated separately.
What should be disclosed at renewal?
Claims, complaints, investigations, employee disputes, financial changes, acquisitions and other known circumstances should be considered and disclosed as required.
CONNECTED COVER
Look beyond one policy.
We consider how this cover interacts with the rest of your insurance program.
A CONSIDERED REVIEW
Protect the company and the people making decisions.
We can review your structure, workforce, financial information, controls and prior matters before approaching the market.
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