Management Liability Insurance is a combination of coverages that protects you from a variety of risks that arise when running and managing a business. This customized package of coverages is aimed at protecting directors, officers, board members, managers, and administrators, as well as the company, from lawsuits alleging mismanagement, and is intended to provide liability coverage beyond what a standard general liability policy covers.
Directors & Officers (D&O)
- Private & Non-Profit: Limits up to $5,000,000 Primary & $5,000,000 Excess
- Community Associations (NFP form): Limits up to $5,000,000 D&O & EPL
Employment Practices Liability (EPL)
- Private & Non-Profit: Limits up to $5,000,000 Primary & $5,000,000 Excess
- Community Associations (NFP form): Limits Up to $5,000,000 D&O & EPL
Fiduciary
- Private Company & Non-Profit: Limits up to $5,000,000 Primary & $5MM Excess
Crime
- Private Company Primary and Non-Profit Primary Coverage Available.
- Minimum Premium for Stand Alone Coverage $1,000.
Public Entity Liability
- Limits up to $5,000,000 and up to $15,000,000 annual revenues
Private Companies
- Fully non-rescindable policies
- Most favorable venue punitive damage coverage (where insurable)
- Additional $1,000,000 of Side A D&O coverage may be available
- $100,000 sub-limit for class action wage & hour claims defense, except CA & FL
- Definitive Third Party coverage
- Additional excess $1,000,000 in Costs, Charges and Expenses coverage (EPL) may be available
Non-Profit
- No consent to settlement provision
- EPLI includes claims by non-employee third parties
- $100,000 FLSA defense sub-limit (available in most jurisdictions)
- Business Owners Package coverage option
Public Entity
- Separate claims expense limit equal to aggregate limit
- Definition of “Damages” includes favorable venue punitive and exemplary damages
- Third Party EPL coverage – employment discrimination and sexual harassment
- Crisis management coverage – including incapacity/death and indictment of Insured; funding cancellation, bankruptcy, employment event and other material events
- Injunctive/non-monetary relief exclusion - $100,000 claims expense sub limit
- No anti-trust exclusion