As a director or officer of a business action can be taken against you personally for a breach of your professional duty. A management liability policy will provide you with cover in the event of investigations from UK regulators including health & safety, police, HMRC, ICO etc.
A management liability policy can include a variety of covers including Directors & Officers, Corporate Liability and Employment Practice Liability.
Corporate Liability and Directors & Officers insurance are normally included as standard on an MLP policy, these cover the business, directors and officers following a breach or alleged breach of their professional duty.
Employment Practice Liability provides cover for legal costs and awards in relation to employment disputes, e.g. claims brought by an employee claiming unfair dismissal, discrimination, sexual harassment etc.
An MLP policy does not include a 51% prospect of success clause, this is normally included within a legal expenses policy. In addition to this, most MLP policies extend to include libel and slander and will also cover the cost of HSE intervention fees.
At East Yorkshire Insurance Brokers our preferred market for directors’ and officers’ insurance is AXA, this is because all of their customers automatically receive the benefit of Rradar who are AXA’s legal service partner. In addition to AXA, we do have access to a variety of other MLP markets to fit all client’s needs.
With over 10 years of experience, East Yorkshire Insurance Brokers an appointed representative of Ten Insurance Services are your local independent expert for all your business Insurance requirements. Based in Hull, East Yorkshire Insurance Brokers believes in offering a friendly and personal service for a wide range of commercial insurance products for small to medium-sized businesses.
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Whether you’re looking for landlord insurance, shop insurance, contractors’ insurance, fleet insurance or professional indemnity insurance we believe in giving you confidence in your insurance cover by using our experience and knowledge to build long-lasting relationships.