Why your business needs Management Liability Insurance
Anybody involved in the management of your organisation or business may have duties and obligations that arise from a multitude of statutes including:
- Corporations law
- Customs and excise legislation
- Dangerous goods legislation
- Equal employment opportunity and anti-discrimination legislation
- Environmental legislation
- Income Tax Assessment Act
- Occupational health and safety legislation
- Superannuation legislation
- Trade Practices Act and Fair Trading Acts
- Workers’ compensation legislation
Management Liability Insurance protects Directors and Officers and the company against the risks and exposures of running the company for wrongful acts committed.
Without the right protection Directors and Officers could risk losing their business as well as their personal assets. This insurance protects them personally, and their wealth and lifestyle. The legal costs to defend allegations of wrongful acts alone can be financially crippling for businesses and individuals.
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