Why Management Liability Insurance Is Important

Why Management Liability Insurance Is Important

As a business owner you are personally liable for most things that go wrong in your business whether you are actually at fault or not, the liability will always be on your shoulders as the owner. 

And it’s not just larger businesses that are at risk, small and medium sized businesses can be affected as well, so it is important that you protect yourself and your business. 

Investing in management liability insurance can save you from unexpected liability expenses and legal costs from any claims that arise. 

To give you an idea of what this insurance can do for you exactly, here are a few of the protections that management liability cover offers.

Employment Practice Liability

When running a business you will have your own inhouse systems for managing employee disputes and ensuring everyone is being treated fairly. However, if any of your employees claim that a wrongful act such as wrongful dismissal, workplace bullying, or discrimination has occured it can be costly to you and your business. 

Having management liability insurance cover can protect you by financing the payouts for employment breach claims. 

Directors and Officers Liability

As a business owner you are responsible for protecting everyone that works for you including directors, officers and employees.

Having business insurance can help protect your company’s past, present and future directors, officers and managers against claims of wrongful acts, such as misrepresentation or breach of duty. 


There are a range of crimes that can occur in the workplace, so it is important to be prepared. While management liability cover won’t protect against all forms of criminal activity, this cover will protect your business from claims of employee or third party fraud. 

There are additional policies you can look into for cover for various workplace crimes, depending on the severity of the crime. 

Statutory Liability

Statutory liability covers costs associated with defending and settling claims from outside parties who are alleging wrongful conduct, as well as investigation into the affairs of the company.

This ensures your business can afford to get a high level of legal defence and protection without facing large financial losses which could bankrupt your business. 

Defence Costs

If your business ends up in court for any reason it can be expensive to seek legal advice and great defence lawyers. Without insurance, going to court can destroy a small business if they cannot come up with sufficient funds. 

Having management liability insurance can protect your business, no matter the size, by covering all the costs associated with going to court. 

If you are a business owner and do not yet have liability insurance or are looking to upgrade your policy we can help. 
Business Insurance Consulting specialises in a wide variety of business insurance policies including management liability. To learn more about our services and how we can help protect your business, you can visit our website or contact us to request a quote.

Benefits Of Cyber Protection Insurance

Benefits Of Cyber Protection Insurance

It is no secret that the majority of our lives and business is completed online, this also means however, that the risk of cyber attacks is now higher than ever. So, it is essential to protect yourself and your business from cyber attacks. 

You can do this by investing in cyber protection insurance. This is a relatively new form of cover as cyber risks have recently begun to become more prevalent. 

Some of the biggest benefits of cyber protection insurance include covering financial and reputational losses incurred by cyber attacks, as well as providing liability protection.

Let’s take a look at some of the ways that cyber protection insurance can help your business. 

Business Interruption Losses

Having cyber insurance will ensure any and all financial and work related losses that you may suffer as a result of a cyber incident or attack are covered, so your business is not significantly impacted. 

Cyber Extortion

Depending on the nature of the cyber attack, the hackers may try to blackmail your business by requesting a payment in exchange for your data or systems. 

Without insurance this can be costly, and if you cannot afford the ransom amount you risk losing all your data. With cyber insurance, all the costs of hiring professional negotiators, covering the demands, and preventing future threats will be covered. 

Electronic Data Replacement

Repairing, recovering and replacing your business’s data can be a time consuming and expensive process following a cyber attack. 

If you have insurance, through this process won’t hurt as much, as all costs will be reimbursed. This ensures you can get back to normal business operation as soon as possible, with minimal financial losses. 

Security and Privacy Liability

Cyber breaches can result in damage to your reputation if any third party data held in your system ends up in the wrong hands. 

Having cyber liability insurance your insurance company will help minimise the damage to your business. They will cover the included costs of immediate responses, ensuring payments are made on a no fault basis without admission of liability. This will ensure your business’s reputation is protected. 

Legal Costs

If you need to seek any legal defence or have to face court for any reason related to a cyber breach or attack, your insurance will cover all relevant legal costs. 

As well as covering defence costs, your insurance company will also cover all legal expenses and costs that arise from government regulator investigations.

Electronic Media Liability

Cyber attacks can result in a massive data breach, which can have detrimental effects on your business, financially and reputationally. 

Cyber insurance will ensure your reputation remains intact and cover all costs associated with data breaches, including copyright infringement, defamation claims, and the misuse of certain types of intellectual property online.

Crisis Management Expenses

If you have to call in crisis management experts to help manage the effects a cyber attack has had on your business or team, your insurance provider will cover for the costs. 

Notification and Monitoring Expenses

Notifying all of your customers of a security breach and monitoring all of their data against future attacks can be expensive and time consuming. However, with insurance it doesn’t have to be, your insurer will cover all of these expenses for you. 

If your business has a website or any electronic data online, it is important that you protect it. If your business is in need of cyber protection insurance we can help. 
You can visit our website to learn more about our insurance services or contact us to request a quote to start protecting your electronic data.