Management Liability
The Australian Marketing Institute has negotiated an exclusive Management Liability insurance facility, through Austbrokers Countrywide, that offers very competitive discounted prices for marketing professionals.

What is a Management Liability Insurance Policy?

Historically, these products have been known as a Directors & Officers Liability Insurance, which was designed to protect the personal assets of directors and officers by providing indemnity for any loss arising from a claim as a result of a wrongful act committed in the course of them performing their management duties. The product has now evolved to cover a whole range of management liability exposures. The mains areas covered under the Management Liability policies include:

  • Directors & Officers Liability Insurance – protects the Directors & Officers against claims resulting from management decisions. Directors face liabilities under Corporations Law, Trade Practices Act, Environmental legislation and a variety of government bodies and statutes (e.g. ATO and ACCC). Both Executive and Non Executive Directors can be held liability for actions of the company at a personal level which can put at risk personal assets.
  • Employment Practices Liability Insurance – protects the directors and the company from claims brought by employees for things such as unfair dismissal, harassment, discrimination and/or unfair work practices.
  • Fidelity Guarantee Insurance – protects the company from direct losses resulting from employee theft.
  • Statutory Liability Insurance – protects directors and the company from statutory civil fines and penalties where at law the insurer is able to pay (e.g. OH&S fine following a workplace injury).

What does the policy exclude?

These policies typically exclude someone who holds more than 15% of the shares from being able to sue another director and obtain cover under the policy. They typically exclude bodily injury and property damage claims. The reason for this is the company already has a general insurance program in place.

Please refer to their website for more information about the benefits of AMI membership

http://www.ami.org.au/index.asp

For an obligation free quotation please phone 1800 245 123, or alternatively you can complete the form below and a member of our team will contact you shortly:

If for any reason the below form does not work, please email you enquiry to professional_risks@abcountrywide.com.au

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