Protecting your position as a manager
When you’re running a business, you may be personally liable for any actual or alleged breaches of the Corporations Act. Make sure you are covered with our Management Liability insurance.
At a glance
Small business owner, Northern Tasmania
Management liability insurance including employment practice liability and corporate liability, defence costs
Payout for claim of employment breach, costs of defence and settlement from outside parties, legal court costs
Alice* runs a small business in Northern Tasmania and employs 4 staff. Recently, she had to let go of one of her employees - but they claimed they were wrongfully dismissed, because they were unwell at the time their position was terminated. The former employee wanted to be reinstated and renumerated for their loss of income while they were out of work.
Alice underwent numerous conciliation attempts with the former employee. However, these efforts were unsuccessful, and the matter was taken to court. Alice had to pay damages to the former employee.
Alice was able to recover some of the costs incurred through this process. She had taken Management Liability Insurance with us, which included corporate liability. This policy covered costs and allowed Alice to continue to operate, without having to sell the business or personal assets.
We offer a range of Management Liability policies that can help you plan for the unexpected. Chat to us and we can match you with the best policy for your circumstances.
*Name changed for privacy reasons.
Important note: This information is provided to assist you in understanding some terms, implications and common considerations of this product. It does not constitute advice, and is not complete, so please contact us to discuss the full details. You should consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD), where applicable, when deciding whether to buy (or continue to hold) this insurance and also whether this insurance is appropriate for you. These documents can be obtained by contacting our office. Deductibles, exclusions and limits apply.