Horizon General Insurance Brokers: Our role is to assist you to protect you and the company
against the risks and exposures of running the company



What does Management Liability Insurance Cover?

Management Liability Insurance focuses on covering the act of running a company, including

✔ Damages and claimant costs awarded against you
✔ Defence (i.e. legal) costs
✔ Investigation costs
✔ Civil fines & pecuniary penalties

Directors and Officers Liabilities
Protects past, present and future directors and officers plus anyone else involved in the management of a company
for claims alleging a wrongful act and for which the company does not grant indemnification to such person.
Employees can also be covered.

Claim examples
✔ Unfair Competition
✔ Fraud/Breach of Fiduciary Duty
✔ Misappropriation of Trade Secrets
✔ Insolvent Trading
✔ Manslaughter

Employment Practices Liabilities
Provides cover to the company, directors, officers and employees for claims made by current, past and prospective employees
for issues arising from employment practices, including harassment, unfair dismissal and other employment issues.

Claim examples
✔ Bullying/Harassment
✔ Unfair Dismissal
✔ Discrimination

Statutory Liabilities
Covers certain individuals and the company for fines and penalties from operating the business
including fines related to workers compensation and occupational health & safety.

Claim examples
✔ Occupational Health and Safety Penalties
✔ EPA and Pecuniary Penalties
✔ Other Pecuniary Penalties (Civil Penalties)

Crime Cover
Cover to the company for loss arising from dishonest acts such as theft and fraud by employees including theft of stock.

Claim examples
✔ Theft by Employee
✔ Theft of Inventory
✔ Theft by Contractor/Consultant

Legal Representation Costs
Legal representation costs incurred by directors/officers and the company
for attendance at official investigations or inquiries are covered.

Claim examples
✔ ASIC Enquiry

Other Covers - Tax Investigation / Public Relations / Crisis Containment
Additional management exposures can also be insured against under management liability insurance, to reimburse the company for certain costs
incurred during a tax investigation by the ATO or to engage professional assistance in a crisis.



Who can bring an action against a company, its directors, officers and employees?

❖ Regulators (e.g. ACCC, ASIC & the ATO)
❖ Competitors
❖ Creditors
❖ Shareholders (especially minority shareholders)
❖ Clients
❖ Liquidators/Administrators

Most common types of claims under Management Liability Insurance
Breaches of director's duties and/or fiduciary duties, including breach of trust
False, misleading & deceptive conduct by directors/officers and employees

❖ Actions alleging improper and illegal conduct
❖ Statutory breach of duty i.e. under legislation
❖ OH & S prosecutions and inquiries
❖ Employment: unfair/wrongful dismissal, discrimination, harassment, wrongful failure to employ or promote
❖ Defamation by directors/officers
❖ Breach of intellectual property rights by directors/officers
❖ Employee theft, including theft of money and property
❖ Statutory fines & penalties
❖ Taxation investigation costs



Which insurer is the best?

The right one for you is the one that:

✔ Offers you the best cover for your type of business and its specific requirements
✔ Cost effective for your specific requirements
✔ Most importantly: pays claims with minimum fuss & in reasonable timeframes

We deal with all insurers and recommend an insurer that is specific to your needs.



Our philosophy is: Never have more cover than is required for your specific circumstances and always have it price competitive.

Contact us for a free no obligation chat about how
we may be able to help YOU.