Covers:

· Directors and Officers Liability
· Company Reimbursement
· Company Cover
· Employment Practices Liability
· Fidelity Guarantee
· Superannuation Trustees
· Fines and Penalties

For private companies and not-for-profit organisations with revenue up to $50,000,000 and up to 100 employees.

If you are working with directors and officers of Not for Profit organisations or directors and officers of private companies, their personal assets could well be exposed in the event of a third party pursuing them in their capacity as a Director of the organisation. We can help make you the expert in this growing specialist insurance category.

Call our Management Liability specialist, Cindy Lau on 02 8274 8118 or email here.

Download a fact sheet here.

Download the proposal form here.

Download the policy wording here.

More on Management Liability Insurance with Brooklyn Underwriting:

The Brooklyn Management Liability policy is a combined policy specifically tailored to meet the needs of private companies including Not for Profits (SME’s). The various policy sections address a wide range of exposures often overlooked by the SME sector. The product is specifically tailored to suit the needs of SME’s with revenue of up to $150,000,000 and employees up to 150.

Each and every Director, Officer and Senior Manager of an incorporated entity is personally exposed to liability for a breach of the duty they owe. The bottom line is that without the protection of a suitable Management Liability Insurance policy all Directors and officers are exposed to a management liability claim – a claim which could lead to personal financial impairment. Even a groundless claim could be enough to destabilise the company and cause undue stress and financial hardship to an individual. Director, Officers of SME’s are not immune to claims. An innocent act, error or omission can be enough to generate a claim against an individual and/or against a company.

Who needs it?

If your client answers yes to any of the following questions the possibility of being involved in a Management Liability claims exists for both the individual and/or against a company.

1. Does the company have customers/clients?

2. Is the company required to comply with any legislation?

3. Does the company have employees?

4. Does the company have competitors?

5. Does the company incur debts?

6. Does the company have dealings with other third parties?

The Brooklyn Management Liability Policy has been specifically designed to cater to the needs of SME’s

What is covered?

There is more to a management liability policy than traditional D&O cover. The policy provides the following covers:

Directors and Officers Liability – provides protection for the individual when the Company cannot reimbursement the individual. This means that you will not be personally out of pocket, funding legal costs, when you are sued in your capacity as a director or officer of the company.

Company Reimbursement – provides reimbursement to the company in the event that an individual director or officer has been indemnified by the company. This section ties in with the company’s indemnification provisions in your company’s Constitution.

Company Liability – provides protection for claims made against the entity in certain circumstances. Note that this section should not be confused with Company Reimbursement coverage, which does not cover the entity per se. Traditional Directors & Officer policies typically do not provide this cover.

Employment Practice Liability – protection for the individuals and the company for claims involving those frequently occurring employee disputes. With the ongoing changes to workplace legislation it is often confusing for employers to stay on top of their duties and obligations Employees are more aware than ever of their rights and will not hesitate to make a complaint if they feel they have been unfairly treated. Consider also that a potential employee (someone that you decided not to hire) could bring an action against you for discrimination!

Superannuation Trustees – relevant for companies who have company sponsored staff superannuation funds in the event that a breach by the Trustee occurs.

Fidelity Guarantee – provides protection for individuals in the event they are ordered to pay monetary sums to a regulatory authority.

Fines and Penalties – provides for individuals in the event they are ordered to pay monetary sums to a regulatory authority.