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Management liability insurance protects company directors, officers, and the business against claims arising from their management decisions and conduct. It typically combines directors and officers (D&O) liability, employment practices liability, statutory liability, and crime cover under one policy.
Management liability is not just for large corporations. Any company with directors, employees, or statutory obligations can face management liability claims. Small business owners who are also directors can be personally liable for decisions made in running the business — including employment disputes, ASIC investigations, or claims by shareholders. The cost of defending such claims can be financially devastating without insurance.
D&O insurance, typically included within a management liability policy, specifically covers directors and officers of a company for claims alleging they breached their fiduciary duties or made wrongful management decisions. It pays their personal legal defence costs and any damages awarded. Without D&O cover, directors may need to fund their own defence from personal assets — a serious risk in litigation-intensive industries or during company restructures.
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