Did you know that managers and directors of a business can be sued for mismanagement that causes loss to others? And you can even be held personally liable – potentially putting your own assets and savings at risk?
Management liability insurance can provide protection against the financial exposures that come with managing a company. It ensures that you can defend, settle or pay compensation claims, without putting your business or personal finances at risk.
Management liability insurance is important for all businesses, big and small to help protect against unpredictable and potentially large liability claims.
Management liability insurance can cover the business against claims arising from mistakes or deliberate actions – including fraud – from the company or its directors, officers or employees – both past and present.
It can cover the cost of investigating, defending and settling claims by a third party, as well as paying compensation the business is liable for.
There are exclusions. There is also often a deductible or excess and limits on cover, so check with Oracle Insurance.