Management Liability Insurance provides a company, and its directors and officers, protection against the risks of managing a business. Anyone who owns or is involved at the management level in a company carries specific responsibilities. They may be personally liable for any alleged or actual wrong-doing as a director, officer or owner of that company.
A company, and its directors and officers, can face both personal and corporate action from shareholders, employees, competitors, creditors, regulators, customers and administrators. Even if a claim appears completely baseless or without merit, it still takes time and money to defend.
Broadly speaking, Management Liability insurance covers the following:
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