Directors and Officers
Management Liability Insurance (MLI) protects companies and their directors and officers from financial losses resulting from claims of wrongful acts, especially those related to breach of duty, negligence, and discrimination. It typically covers legal defense costs, settlements, and awards. MLI is a comprehensive policy often consisting of three main components: Directors and Officers insurance, Employment Practices Liability, and Corporate Legal Liability.
Key Components of Management Liability Insurance:
- Directors and Officers (D&O) Insurance: Protects directors and officers from claims made against them personally, such as breach of duty, negligence, or defamation.
- Employment Practices Liability (EPL): Protects businesses from claims made by employees for employment violations, including discrimination, wrongful termination, or harassment.
- Corporate Legal Liability (CLL): Covers the company itself against claims, including breach of trust, contract disputes, and pollution.
Why is Management Liability Insurance Important?
- Protection from Claims: MLI provides a financial safety net for businesses facing legal action related to management's actions.
- Legal Defense: It helps cover the costs of defending against lawsuits and regulatory investigations.
- Financial Security: MLI ensures that businesses can pay for settlements or awards if a claim is successful.
- Peace of Mind: For directors and officers, it provides assurance that their personal assets will be protected.
Now is the time to call me on 0161 766 1927. Don't wait until it is too late.
The future well-being of your company could depend on you picking up the telephone and speaking to me.
Sit back and relax when you are with Steve Allen Insurance
