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MANAGEMENT LIABILITY
Management Liability insurance protects the individuals and the company in relation to exposures associated with managing a company.

Propriety companies and their directors continue to face greater corporate governance and increasing regulatory surveillance of the management of their business activities.

Traditional directors' & officers' policies have been written to only protect the assets of individual directors and officers. In the past any available cover for the entity under these policies has been limited only to optional extensions, such as employment practices liability cover and comes with the added risk of eroding the directors and officers' policy limit.

Consequently, some proprietary companies have preferred to remain uninsured, exposing their owner directors and officers to the risk of expensive and time consuming litigation. This has been despite the fact that proprietary companies and their directors are directly exposed to risky litigation from a variety of different sources such as minority shareholders, employees (unfair dismissal, discrimination and sexual harassment), creditors and State and Federal regulatory bodies (i.e. ACCC, ASIC and ATO).

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