Management liability insurance can provide coverage for the personal liability of corporate directors and officers arising from their management decisions. It can also protect the company and its executives from claims made by shareholders, employees, or third parties alleging wrongful acts. This line of insurance products typically includes directors and officers (D&O) liability, errors and omissions (E&O), employment practices liability, fiduciary liability, and cyber liability.

• Directors and officers insurance covers legal fees and damages associated with lawsuits against company directors and officers, which is key for protecting their personal assets.
• Errors and omissions, also known as professional liability insurance, is designed to protect professionals and businesses against claims of negligence, mistakes, or inadequate work. It covers legal defense costs and settlements or judgments resulting from lawsuits alleging that the professional services provided were substandard, resulting in financial loss or harm to clients.
• Employment practices liability insurance addresses claims related to employment practices such as discrimination, harassment, and wrongful termination.
• Fiduciary liability protects against claims of mismanagement of employee benefit plans.
• Cyber liability insurance provides coverage for businesses against financial losses resulting from cyber attacks and data breaches. It typically covers legal fees, notification costs, and expenses related to data recovery and business interruption. This insurance is essential for protecting organizations from the increasing threats of cybercrime and ensuring they can respond effectively to incidents.

Management liability policies can be customized to fit the specific exposures and needs of your organization. Robust management liability coverage is crucial for mitigating financial losses and ensuring the stability and reputation of your company.