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Management Liability Insurance

With over 700 Acts of Parliament, By-Laws and Regulations your business needs to be on top of how long before you fall foul of one or more of these Laws and Regulations listed below?.

Want to protect your assets? Happy to pay Fines and Penalties?

Cover provided for your business under Management Liability covers areas including Director’s & Officers’ cover, Entity cover, Employment Practices Liability, Crime, Occupational Health and Safety, Official Enquiries, Tax Audit and Statutory Liability

POOR RISK MANAGEMENT  What does it Cover?

Senior Management Fraud, failure to provide a Safe Workplace, Inadequate Training, failure to comply with the Fair Work Act, Theft by employees…..any of these scenarios worry you? If so you need Management Liability to protect you and your Business assets.

  • Do you have official policies and procedures?
  • Do you prevent or minimise bullying?
  • Do you provide proper Induction and Ongoing Training How do you respond to issues if at all?
  • Do you consistently review procedures?
  • Failures in these areas can lead to prosecution and average EPL claims run at around $75000 currently
  • 60% of fraud crimes take over 3 years to detect
  • 61% of frauds have no recover at all
  • Average cost per claim currently is $80,000
  • Biggest motivators are gambing and lifestyle
  • Can your business afford to sustain these types of losses?
  • Do you ensure Management and Employees understand legislation affecting your business?
  • Do you maintain a Safe Working Environment?
  • Average cost per claim is $110,000
  • 80% of Statutory Liability claims come from OH&S

Cover for Tax Audit costs from a Tax notice served on the Company and reported during the cover

 

 

Thomas Insurance Brokers
48A King William Road
Goodwood, Adelaide SA 5034
P: +61 8 8212 7100
E: contact@thomasinsurance.com.au
AFS LICENCE NO. 221218

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