Did you know that there are 2.78 million companies registered in Australia? Yet, according to statistics released by APRA, very few of these companies seem to buy Management Liability insurance. But there is no reason why these uninsured exposures should remain that way.
Management Liability insurance covers certain risks arising from the actions and decisions of directors, officers and managers, which arise from the running of a business. These actions and decisions could include improper conduct such as sexual harassment, unfair dismissal or defamation. Australian SMEs can not afford to ignore the legal and regulatory risks of their operations. Fines from various government or industry regulatory bodies can reach hundreds of thousands, or even millions of dollars for very serious breaches. In addition, the cost of defending litigation can cripple otherwise healthy and profitable businesses.
ProRisk’s Management Liability Policy is specifically designed to cover the management exposures of a small to medium sized private company or co-operative. When you think about the risks of doing business in Australia or New Zealand, Management Liability Insurance should be a must buy. Our Management Liability offering is suitable for private companies or co-operatives with:
This product is now available on www.probind.com.au so sign up and start quoting today.
* This product is made up of two documents the Policy Wording and the GTC’s (General Terms and Conditions). They must be read in conjunction with each other and together form the contract of insurance along with the Policy Schedule, which is issued at the policy inception.