As senior management, your decisions have impact
Many business leaders may be unaware that they can be held personally liable for the business decisions they make. In such an event, it could be your own finances on the line. Otherwise known as directors and officers’ insurance, management liability insurance provides protection to your company and its leaders if they are accused of any wrongdoing in their daily duties as a director, officer or partner of your business.
What’s included in a management liability policy?
- Directors and officers (D&O) liability
- Employment practices liability
- Regulatory and investigation costs
- Crime and fraud
- Cyber liability
- Legal expenses
Without management liability insurance, your business could be at risk of:
- loss of personal income
- loss of business income
- costly legal expenses
- fraud and theft losses
- shareholder and investor claims
- reputational damage
Management liability risks we can help insure you against:
Breach of duty and misconduct
Regulatory investigations
Wrongful employment practices
Mismanagement of funds
Shareholder disputes
Cybersecurity failures
Contractual disputes
Environmental and ESG failures
We see ourselves more as your insurance partner, rather than just an insurance broker
The day-to-day running of a modern business can be complex and time-consuming. Insuring it is no different. Without specialist advice, you may be leaving yourself vulnerable to:
Gaps your cover that you aren’t aware of
Not insuring your business and people for the correct value
Paying for more cover than you need
The risk of your business closing following a claim
Request a quote from one of our management liability insurance specialists
To discuss the requirements of your business, fill out the form below and one of our specialists will be in touch.
Frequently asked questions about management liability insurance
A typical indemnity limit for management liability insurance starts at £1 million and goes up to £10 million. As your insurance specialist, NFP can offer specialist advice on your company’s level of risk and help determine the amount of cover you require.
This depends on the policy you select. Policies with a recent inception date will only cover claims based on events that occur from that date onwards, however some policies can have a much longer – or even endless – retroactive date, which will cover claims relating to more historic incidents. These considerations are something that an experienced broker like NFP will take in to account, which is why selecting the right partner is so important.
Whilst your company may have enough financial resources to settle any legal claims, many cases - due to conflicts of interest, regulatory requirements, or personal liability under the law - cannot be dealt with at a corporate level. In these instances, the responsibility falls to your company leaders personally, so management liability insurance is vital to protect them and their personal finances.
Without the right cover, the cost of legal defence can be significant, making it challenging to personally fund court proceedings in the event of a claim or allegation, even if it is completely unfounded. In a ‘your word against theirs’ scenario, it is hard to properly clear your name and prove your innocence. We can give you the peace of mind to know that, no matter what accusations may come your way, you have an specialist team behind you fighting your corner.
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