At JMP we understand that when you are in a leadership position, you take on a great deal of risk when it comes to your business. Whether you are a Director, Officer or Senior Manager you are exposed to scrutiny. Management Liability insurance provides you with a level of protection that covers you in the event that something goes wrong. Allowing you to lead with confidence.
Having Management Liability Insurance in place protects the company itself, company Directors, senior managers and officers against claims that can arise from mistakes or deliberate actions, including fraud, from the company or its Directors, Officers or employees – both past and present, if a negligence claim is brought against them in court or at an employment tribunal. This specific insurance covers you against circumstances not covered under traditional commercial general liability insurance and provides an additional layer of protection.
There are several different covers which come under the umbrella of Management Liability to protect directors on the tough choices they need to make day to day. These include Directors and Officers, Corporate Liability, Employment Practices Liability and Pension Trustee Liability.
With ever changing legislation there is increasing pressure to hold individuals to account. If you are a Director, or an individual who makes decisions on behalf of the company, you may find yourself in the firing line.
Directors and Officers Liability Insurance provides protection for the cost of compensation or liabilities claims made against your business’s directors and senior officers.
Who can bring a claim?
Corporate Liability Insurance can be added to your policy to protect the corporate entity of the business. This cover defends claims made against the company as opposed to individuals and can include matters such as corporate manslaughter, mal administration of a company pension, an employee benefit claim, a breach of data protection or corporate identity crime.
To find out whether this type of cover is right for your business, call our friendly team for a no obligation quotation and expert advice on 01242 898387.
Employment Practices Liability Insurance is designed to protect both a company from the potentially devastating financial impact of litigation and helps employees claim their legal rights if they feel they have been violated. Common claims covered under this policy can be wrongful termination of a contract, discrimination, sexual harassment and retaliation. This type of cover can be added to any JMP corporate policy.
Pension Trustee Liability insurance is designed to meet defence costs, awards, damages and investigation costs of those in a position of authority, such as board members or trustees if a claim is made against them for committing a wrongful act that is damaging to the organisation, such as accusations of a mistake being made or an oversight in their duties. Trustees who breach these increasingly complex responsibilities may place their personal assets at risk and may even find themselves liable for civil and criminal penalties without appropriate cover in place. This type of cover can be added to any JMP corporate policy.
We understand that power comes with huge responsibility and exposure. We have designed our extensive Management Liability Portfolio options to ensure you are protected when facing difficult decisions when it comes to your business.
Our Management Liability cover provides:
Contact one of our insurance experts to find out more on 01242 898387.
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