Were you aware that you could be personally liable for decisions made as a company director?
It is a little-known fact that the directors, officers and managers of your business can be held personally liable for mistakes or errors of judgement at work even if they couldn’t have predicted the outcome. This applies to both profit and non-profit organisations.
Management liability insurance covers losses or reimbursement of defence costs and can be extended to include corporate legal liability for claims made against the organisation – either separately or jointly with the director.
Cover can also be extended to include employment practices liability to cover for any financial losses in defence of claims for employment related lawsuits.