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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.
Did you know:
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.