BUSINESS PRACTICES PROTECTION - MANAGEMENT LIABLITY
In this ever changing legislative environment, private companies need the comfort of a Management Liability policy written on a broad-form basis to ensure they are receiving the best possible protection to their business practices.
Specialist Underwriting Agencies Pty Ltd, in conjunction with Berkley Insurance Australia (ABN 53 126 559 706), has created a policy that will protect these Business Practices by combining four stand-alone Broadform products into a comprehensive Management Liability offering.
With very few occupational limitations, and limits of indemnity available up to $10,000,000, this product is suited to all privately owned companies with revenues up to $100,000,000.
Broadform Statutory Liability;
Inquiry Costs Indemnity;
Employment Practices Liability;
Directors & Officers Liability;
Advance payment of legal costs;
Blanket Outside Directorships cover;
Continuity of Cover;
Extended Reporting Period;
Preservation of Indemnity;
Retirement of Employees;
Some benefits of cover:
- Available for most occupations, including transport, construction and mining risks;
- No sub-limits for any sections;
- Automatically includes all Subsidiary Companies of the Named Organisation;
- Broad definition of Employee, including “deemed employees” and voluntary workers;
- Indemnity for investigation and defence occurs at the point of the Notifiable Incident (defined by statute);
- Includes cover for the negotiation of and costs for an Enforceable Undertaking (unless otherwise coverable);
- Includes cover for prosecutions of Employees, Responsible Officers, Executives and the Entity;
- Employment Practices Liability includes actions brought by Labour Hire personnel and applicants for employment;
- Isolated Limit of Indemnity for Directors & Officers insurance.