Search

FD Beck Insurance Brokers

Management Liability Insurance in Victoria,AU

If you’re running a business, large or small, there is a risk that you may find yourself personally liable for any company breaches of the Corporations Act-

MLI Coverage in Melbourne,VIC

Aims to cover the costs of defending Directors, high and low-level managers and employees against any claims that are the results of any individual’s decisions or actions.
Many companies, their directors and senior managers unwittingly allow themselves and their personal assets to be exposed to potentially devastating litigation, mistakenly believing that their public liability or professional indemnity insurance extends to protect them in the event of legal claims against themselves and the company.
Furthermore you might consider an action taken by a third party is baseless, however dealing with a dispute means obtaining legal advice which often results in significant costs. Defence and investigation costs alone can be financially crippling for businesses and individuals and without adequate protection you could risk losing not only your business but also your personal assets.

Why You Need Management Liability Insurance in Victoria?

Should you ever be faced with unexpected liability costs, Management Liability Insurance can, in many cases, work to protect your business and personal assets from being sold to cover the cost of financial claims.

Importantly a tailored insurance policy is available to cover not only your business balance sheet but also your personal assets.  Management Liability Insurance is designed to cover Privately owned companies. These companies and their directors, officers and employees are exposed to the legal consequences of unintended errors arising from their daily actions. The companies also face the potential exposure of financial loss caused by employee dishonesty and similar conduct.

Types of Management Liability Insurance in Victoria,AU

Employment Liability

Covers the Company for claims alleging an Employment breach including bullying, wrongful dismissal, discrimination, harassment, deprivation of career opportunity, breach of contract etc.

Crime

Covers direct financial loss caused by dishonest acts resulting in Loss of Money, Securities or other Tangible Property owned by the Company or in their care custody & control or for which the Company is legally liable.

Statutory Liability

Covers penalties, which an organisation is required to pay by reason of an order of any Regulatory Authority such as those arising from Occupational Health and Safety breaches.

Company Cover

Covers the Company for a claim against the entity alleging wrongful acts.

Directors & Officers

Covers the Directors & Officers for any claim alleging a Wrongful Act (negligence, breach of duty, misrepresentation) by a Director.

Kidnap & Ransom

Covers the company for any direct loss and expenses associated with Kidnapping, Extortion Threat or Cyber Extortion.

What Isn’t Covered

Please note that exclusions can vary greatly depending on the insurer and the product. Generally, however, you’re policy won’t cover

Did you know:

Get in touch with the Management Liability professionals at FD Beck Insurance today and make sure you’re covered right.