Notice: Our offices will be closed on December 24th, 25th, 31st and January 1st. Offering emergency service only on the closed dates. Have a safe and Happy Holiday Season!

Uncategorized

Management Liability Insurance

Risk is an unavoidable part of business relationships. Businesses of all sizes and in all industries can become the target of litigation, and utilizing a management liability policy is a low-cost way to keep risk at a minimum for the business and its executives.

Management liability insurance is a blanket term often used to reference a package of coverages aimed at protecting a company and its high-level employees. Its purpose is to provide protection from circumstances not covered under traditional commercial general liability insurance.

Common types of management liability coverage include:

Directors and Officers

  • Also referred to as D&O, this coverage protects directors and officers within a company from financial damage due to litigation for wrongdoing
  • Protects the directors’ and officers’ personal assets, as well as those of the company

Fiduciary Liability

  • Provides financial protection for costs and damages associated with lawsuits against fiduciaries that oversee employee benefit plans
  • Protects against loss due to benefit plan-related negligence, oversight of plans by a company’s fiduciary, or other breach of their duties

Employment Practices Liability

  • Covers the company in the event of a suit regarding “employment practices violation” either by an employee or third party. Claims typically involve hiring and firing mistakes, discrimination of any sort.
  • Provides protection for the company and its employees, whether they be current, past, seasonal, or volunteer

Don’t leave your company and its employees exposed to potential litigation and damage costs. Whether your company is public, private, or nonprofit, management liability coverage is essential.

For more information about our management liability insurance products, call us today at 781-444-3050.