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Management Liability Insurance

Management

In an increasingly litigious and complex world, it is more important than ever for companies to protect their financial stability, while individual directors and senior managers avoid or survive lawsuits. Without adequate cover, you not only risk losing your business, or job, but your personal assets, too.

If you tell yourself, “it would never happen to me", or "only in America", think again. Daily headlines across Australia reveal a stream of legal claims involving people just like you who are facing charges to do with harassment, discrimination, wrongful termination – even fraud and embezzlement.

Supervisors at every workplace are especially liable and vulnerable to all types of lawsuits. And, as the number of legal claims increase, the cost of settlements seem to be on a steady rise. Defence and investigation costs alone can be financially crippling for businesses and individuals alike.


Case study: Embezzlement

The culprit was a trusted friend and employee but over a 5 year period this loyal, efficient accountant misappropriated $850,000 by altering cheques received from debtors.

Due to this trusting relationship the theft remained undetected for a long period of time, the fraud continuing through a cycle of paying debtors accounts from other debtors.

This continued until the scheme was uncovered by the company's newly appointed auditors.


Management liability insurance is the single best way to manage these types of risks for you and your company. It can prevent a legal suit or statutory claim from turning into a financial disaster. Put simply, management liability means covering your backside.

Call Moran Insurance Brokers for more information on management liability insurance, or request a quote.

TOW TRUCK INSURANCE


Approximately 25 years ago, Moran Insurance Brokers found a gap in the market relating to the accurate insurance cover available to tow truck operators. We therefore developed a product with insurers to bridge this gap, and over the years we have continually updated it to ensure it stays relevant to the tow truck industry.


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