How To Mitigate Management Liability Risks

The Martin Financial Group knows that the business world is a risky place, especially for those in charge of companies. People in management positions are often charged with making difficult decisions, and sometimes the consequences of those decisions are less than desirable. To protect itself and its management from lawsuits and loss, many companies opt for some kind of management liability insurance.

Types of Management Liability Insurance

Depending on the industry your business is in, and how much protection you want, the Martin Financial Group offers four types of management liability insurance:

1. Directors and Officers Liability Insurance: Also known as D&O, this policy protects management and the company from the legal fees and settlements that often accompany lawsuits. Generally, policies cover management from negligence, errors, or failures to comply with regulations.
2. Cyber Liability: The amount of money it takes for a company to recover from a cyber attack can be devastating. Cyber liability insurance helps protect businesses from losses and can notify affected parties of the breach.

3. Employment Practices Liability: Even if companies diligently monitor their employment process and strive to ensure that applicants are treated equally, they can still be sued. Carrying employment practices liability helps protect companies from legal costs of defending themselves against lawsuits.

4. Fiduciary Liability: This coverage protects management from allegations of a breach of duty and the lawsuit and settlement costs associated with it.

Get the Best for Your Business

Protecting your business is important, so be sure to investigate all the insurance options Martin Financial Group offers to get the best for your business.

 

 

photo credit: come in (license)