Management Liability Insurance
You and your company can be completely protected against the risks and relevant exposures of running a business or a company by means of our Management Liability insurance product. This would cover your liability in terms of mismanagement. Your personal assets could be at stake and this form of risk mitigation will safeguard your personal wealth and wellbeing.
Many individuals and businesses have been introduced to the harsh realities of having to deal with allegations of wrongful acts and have been financially crippled because of that. Do not fall prey to this. It is important to note that this product does not only protect Directors and Officers in terms of personal liability in running a business, but also extends to the corporation in terms of certain types of claims.
Ideally suited to small businesses and the most common form of Incorporated Entity to which management liability protection is offered in terms of a proprietary company.
The reason for extending cover to proprietary beyond the scope of a traditional directors and officers liability insurance is namely that protection of the assets of a private company for directors and officers speaks to protection of substantial ownership in those assets through personal shareholding.
The cover will provide protection to the following costs and compensations payable in terms of the above actions:
- Registration costs in cases where Directors or Officers are legally approached to attending investigations or inquiries into the affairs of the corporation.
- Legal costs and expenses relating to the defence and investigation of directors’ or officers’ claims.
- Any compensation payable by the insurer in terms of disposing of a directors’ or officers’ claim.
Actions against the corporation of losses sustained by the incorporation and generally cover by this type of cover include:
- Directors’ and Officers’ Liability
- Company reimbursement
- Trustee liability
- Company liability
- Employment practice liability
- Business crisis consultant fees
- Occupational Health and Safety investigation Representation cost
- Direct financial loss
Rensure Insurance Group provides you with a team of highly qualified Authorised Representatives, ready to skilfully provide you with a comprehensive range of products which can be tailored to your unique and specific needs to successfully mitigate management liability in your business.