Management Practices Liability

Businesses face risks every day and without insurance, you could risk losing everything.

Purchasing management practices liability solutions can help protect your business from a wide range of broad-level exposures as well as paying costly legal fees, court expenses, and lawsuit settlements.

Get a Quote

Did you know?

9

More than 1 in 4 private companies report experiencing a D&O loss in the last 3 years with an average loss of nearly $400,000.

Specialized Coverage for Unique Risks

Businesses face risks every day. Risk requires protection. Without it, you could lose everything: your clients, your reputation, your company – even your personal assets.

We can help protect any size business through management practices liability insurance coverage that addresses a wide range of exposures to provide flexible coverages and tailored solutions.

Your business’ financial security can depend on how well protected you are from a lawsuit or claim.

Our team will work with you to help you anticipate challenges and assist in keeping you and your organization protected.

Management Practices Liability Coverage

Consider the following types of management practices liability insurance to help protect your business.

9

The average cost of defending and settling an employee claim is roughly $160,000, which can be a crippling loss for most small and medium-sized businesses.

9

Cyber attacks are cited as No. 2 in the top 10 global business risks, according to the World Economic Forum.

Directors & Officers Liability (D&O)

D&O liability insurance protects the personal assets of corporate directors and officers in the event they are personally sued by the organization’s employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing the company.

D&O insurance is an important aspect of a corporate risk management strategy and can cover defense costs, settlements, and other costs associated with wrongful act allegations and lawsuits.

D&O insurance helps cover claims of:

Misuses of company funds
Misrepresentations of company assets
Breach of fiduciary duty
Failure to comply with workplace laws
Lack of corporate governance

A company pays for this coverage so executives can serve confidently as leaders of their organization without fear of personal financial loss.

Errors & Omissions (E&O)

This specialized liability insurance protects you and your business from claims if a client sues for negligent acts, errors or omissions committed during business activities that result in a financial loss.

This coverage, also known as professional liability insurance, can be customized to the unique risks faced by an assortment of professionals – no matter the industry. Your business’ financial security can depend on how well protected you are from a lawsuit or claim.

E&O insurance helps cover claims of:

Mistakes or negligence
Copyright infringement
Misrepresentation
Inaccurate advice

If your client believes you made a mistake, they can still sue your business – even if you didn’t do anything wrong. Without E&O coverage, you will have to pay for expensive legal defense costs out of pocket.

Employment Practices Liability (EPL)

EPL offers broad protection should a business be sued by an employee over wrongful termination, sexual harassment, or another violation of employee rights.

This coverage protects your business if you improperly manage employee benefits, including health insurance, paid time off, and sick leave.

Companies big or small should need EPL coverage. The risks increase for new or small businesses because they often lack a legal department or handbook detailing the policies.

EPL protect employers from claims made by employees alleging:

Discrimination (based on sex, race, age, or disability)
Harassment
Retaliation
Violation of the Family and Medical Leave Act
Wrongful discipline or demotion
Wrongful failure to promote or wrongful termination
Breach of employment contract
Privacy invasion

Cyber Liability & Data Breach

Cyber Liability and Data Breach insurance provide broad coverages to help protect businesses from various technology-related risks. It offers protection for both the direct costs businesses may face and lawsuits that are brought against a business by a third party as a result of a breach.

A data breach affects your business in the following ways:

Threatens to destroy your financial well-being and the future of your business
Damage your reputation
Puts your customers and/or employees at risk
Lost business
Costly legal defense expenses

With cyber liability insurance and data breach insurance, you can spend less time worrying about cyber threats and more on what matters most – running your business.

* Cyber insurance is often excluded from a general liability policy.

Cyber Liability Insurance Explained

Additional Business Coverage

Liquor Liability Insurance, also known as Dram Shop Insurance, helps protect businesses that sell, serve, or distributes alcohol. It can help cover claims of bodily injury or property damage that an intoxicated person causes after a company served them alcohol.

Abuse and Molestation Liability coverage helps prevent abuse or molestation acts and protects the organization if any accusation or actual loss happens. For social service organizations, especially those working with children or vulnerable adults, this can be one of the most needed coverages.