Here is an example case study showing why your business should have a Management Liability Insurance policy.
A former employee claims they were wrongfully dismissed from your business because they were unwell at the time their position was terminated.
They want to be reinstated to their role and remunerated for their loss of income while they were out of work. After numerous unsuccessful conciliation attempts, the matter is brought before a court and you have to pay damages to your former employee.
A Management Liability insurance policy allows you to recover some or all of these costs so you can continue to run your business without having to sell your business or personal assets. Depending on your policy, you may be able to make a claim for your legal defence costs, as well as the amount paid to your former employee.
Download our Management Liability Insurance Fact Sheet or contact us on 1800 273 256 for a quote or for further information.