Benefits of Management Liability Insurance

Employee Theft Cover

Cover for crime against your business by an employee. Your business asset policy is unlikely to cover these losses. Employee crime is on the rise.

Directors & Officers Liability

Cover for wrongful governance decisions where directors, officers, or senior managers are held to account by shareholders, government or employees.

Compliance Breaches

Cover for costs and damages resulting from a breach of company legislation, compliance and investigations

Employment Disputes Cover

Cover for defending the company against personal grievance costs and damages

Public Relations Costs

Loss of reputation and managing the company's communications after a negative statement by a regulator can be costly. This policy covers these costs

Pollution Defence Costs

The spotlight is on pollution. This benefit covers the defence costs associated any wrongful act in respect of the discharge, dispersal, release or escape of Pollutants

Credit Card & Computer Fraud

Providing the reimbursement of money lost due to credit card or computer fraud

Burglary & Robbery

Cover for loss of cash resulting from a robbery at your business or burglary of a locked safe

Overview of Management Liability Insurance

Policy Benefit Limit of Cover Excess
D&O Individual Cover for your personal liability as a director or officer of the company, including governance errors and compliance mistakes   Your selected sum insured  Nil 
Company Reimbursement cover for when the company pays for a loss on behalf of a director of officer  Your selected sum insured  $1,000
Continuous Cover cover for circumstances that could have been, but were not, notified under a another policy Your selected sum insured  $1,000
Loss Mitigation covering the costs of a loss mitigation adviser to avoid or minimise the risk of loss $100,000 $1,000
Public Relations cover the loss of reputation and PR covers associated with a negative public statement made by a regulator  $100,000 $1,000
Emergency Costs cover for defence and reputation costs incurred within the first 48 hours, prior to the insurers consent.   Your selected sum insured  $1,000
Outside Directorship Extension cover for claism brought against a director who is acting for another company, at the request of the company named on this policy Your selected sum insured  $1,000
Retired Insured Persons onging cover for retired directors   Your selected sum insured  $1,000
Estate Extension cover for a deceased director's estate  Your selected sum insured  $1,000
Marital and Domestic Partner covering your 'other half' for actions taken against them personally or against shared property  Your selected sum insured  $1,000
Occupational Health & Safety defence costs cover for breach of Health & Safety in Employment legisation or corporate manslaughter  $1,000,000 or your selected sum insured, whichever is the lesser $1,000
Superannuation Trustees personal cover for people who act as trustee for a company savings scheme or employee benefits programme Your selected sum insured  $1,000
Compensation for Attendance for an employee or insured person havign to attend a hearing or formal interview relating to the claim  $100,000 Nil
 Pecuniary Penalties covering penalties awarded against you in New Zealand or Australian jurisdiction.  Only to the extent permitted by law (eg Safety breach penalties are not insurable)   $1,000,000 or your selected sum insured, whichever is the lesser $1,000
Investigation Costs investigations into your company can be expensive.  This extension covers these costs $1,000,000 or your selected sum insured, whichever is the lesser $1,000
Extradition insuring the costs of having to extradite an insured person $500,000 $1,000
Pollution Defence Costs defence costs cover for any wrongful act in respect of the discharge, dispersal, release or escape of Pollutants. $1,000,000 or your selected sum insured, whichever is the lesser $1,000
Additional Limit additional cover for non executive directors of the company  20% of your selected sum insured  $1,000
Preservation of Right of Indemnity if the company refuses to indemnify an insured person the insurer will  Your selected sum insured  $1,000
Securities claim cover for the loss and defence costs resulting from a securities claim against the company  $100,000 $2,500
Employment Dispute cover for an action against the company by an employee or ex-employee for a wrongful act $100,000 $10,000
Reinstatements & Injunctions cover for the defence costs associated with an employee seeking to injunct (stop) the company $100,000 $10,000
Employee Theft of Company Property cover for theft or forgery of money or property by an employee  $50,000 $7,500
Employee Theft of Client Property cover for theft or forgery of client money or property by an employee  $50,000 $7,500
Fiduciary Theft of Client Property cover for theft from an employee plan or fund by another employee or trustee  $50,000 $7,500
Forgery or Alteration cover for loss resulting from the forgery or alteration financial instruments by another party $50,000 $7,500
Inside the Premises Coverage cover for loss of money /cash resulting from robbery or the burglary of a safe $50,000 $7,500
In Transit Coverage cover for loss of money /cash resulting from robbery or the burglary of a safe while in transit  $50,000 $7,500
Computer Fraud covering the loss of money that has resulted from computer fraud committed by another party  $50,000 $7,500
Funds Transfer Fraud cover loss of money in a bank account resulting from transfer fraud $50,000 $7,500
Money Orders and Counterfeit Currency Fraud covering the loss sustained from fake money  $50,000 $7,500
Credit Card Fraud reimbursement for losses from credit card fraud $50,000 $7,500
Restoration Expenses covering the costs of restoring computer systems after a violation  $100,000 $7,500
Contractual Penalties Cover for the penalty imposed due to breach of agreement.  The breach having occurred because of a loss covered by this policy.   $7,500 nil
Investigation Costs are covered to the extent that they relate to a loss covered by this Crime cover $500,000 nil 
Extortion covering the loss associated with an employee extorting the company  $250,000 $7,500
Interest Costs covering bank interest paid or not received as a result of a Crime loss covered by this policy $100,000 nil 

Want all the details?

Download Policy Wording