Management Liability Insurance provides protection for a company and its directors, officers, and managers against claims arising from alleged wrongful acts, mismanagement, employment disputes, or regulatory investigations.
Directors' and Officers' (D&O) Liability Insurance
Directors and senior employees have legal duties and responsibilities in the course of carrying out their roles. If they are alleged to have breached these duties, they may become personally liable and face legal action from a range of parties, including shareholders, creditors, employees, customers, competitors, or regulatory authorities.
Directors' & Officers' Liability Insurance provides personal protection for directors and officers by covering legal defence costs, settlements and damages arising from claims alleging wrongful acts committed in their managerial capacity, subject to the policy terms and conditions. Deliberate, dishonest or fraudulent acts are typically excluded.
As it becomes increasingly common for directors and officers to be named personally in litigation against a company, D&O insurance provides valuable protection for their personal assets. Policies can also be extended to provide cover for the company itself referred to as Entity Cover or Corporate Legal Liability Cover.
Employment Practices Liability (EPL) Insurance
Employment Practices Liability (EPL) Insurance can be added to a Management Liability or Directors' & Officers' (D&O) Liability policy to provide protection against claims arising from alleged breaches of employment law.
EPL cover helps protect the business by covering legal defence costs, settlements, compensation awards, and damages resulting from a wide range of employment-related allegations. These may include claims of unfair dismissal, discrimination, harassment, wrongful termination, failure to promote, or other employment practice violations.
With employment-related claims becoming increasingly common and costly, EPL insurance provides valuable financial protection and support to businesses facing legal action from current, former or prospective employees. Cover is subject to the policy terms, conditions and exclusions.
Often Insurers partner with expert resource providers including Farillio and rradar to complement their insurance products, these such companies help businesses manage risk before it becomes a claim via digital tools and legal advice