Here is everything you need to know about Management Liability Insurance. Our Business Insurance experts break down the complexities.
- Unfair dismissal
- Wrongful termination
- Sexual harassment
- Misleading and deceptive conduct
These are all words that make an employer cringe – with the world is becoming more litigious by the day are you protected?
Did you know:
- 50% of management liability notifications result in a claim
- The average cost of an unfair dismissal claim is $50,000
- 59% of management liability claims are employment practices liability
- 70% of statutory liability claims come from OH&S
- 60% of frauds take over 3 years to detect (Warfield & Associates)
Management Liability Insurance Can Provide Cover For:
- Company reimbursement – claim against insured persons for wrongful acts or employment practice breach
- Entity – claim against the company for wrongful acts or employment practice breach
- Employment practices breach
- Statutory liability
- Tax audit costs
This policy can also include a cyber risks extension.
If you would like to know more or would like a quote, contact Carbon Insurance Brokers.