Management Liability Risks for Businesses

Management Liability Risks for Businesses

New Product Line Launched By IRIS

Today almost any business can find itself facing a liability lawsuit. A Management Liability lawsuit can put business and personal assets at risk. One simple mistake could cause financial devastation, as well as end your professional career. Many businesses don’t think they have an exposure to professional loss. But that is not the case.

Here Are A Few Actual Claim Examples:

  • A marketing consultant failed to send email advertising in a timely manner and the client had lost revenue of $150.000. The claim was settled for $125,000.
  • A Head Hunter placed an executive with a firm, but failed to complete due diligence regarding a non-compete agreement. The non-compete limited the executive’s ability to perform job duties. The new employer sued the head hunter for failure to disclose and won a $50,000 award.

What Coverage Is Available?

  • Directors and Officers Liability
  • Company Reimbursement
  • Entity Securities Liability
  • Investigation Costs
  • Outside Directorship Liability
  • Extradition and Appeal Costs
  • Family Costs
  • Corporate Liability
  • Employment Practices Liability
  • Benefit Plan Liability
  • Cyber and Privacy
  • Kidnap and Ransom
  • Court Attendance Costs
  • Loss Mitigation
  • Reputation and Brand Protection

 

Why Bother With Management Liability?

Management liability includes broad cover for kidnap & ransom including ransom reimbursement, legal liability, and bodily injury in the event of a kidnap, kidnap expenses and emergency evacuation expenses.

Additional Features Include:

We offer entity cover as standard under the D&O insuring clause for all private companies, but will offer entity securities cover for all publicly traded companies. The cyber and privacy cover offered in this policy mirrors that of CFC’s broad standard cyber and privacy policy. Features include cyber liability, privacy liability, mandatory and voluntary privacy breach notification costs and systems damage and business interruption.



Apr. 24, 2015

Categories


Archives