Management Liability Insurance is a combination of several policy coverages that many business need. It would include at least two of the following:
Many times, it may be impossible to determine if a claim results from “Professional Advise,” which is not covered by a D&O policy or if it is the result of the negligence of an officer, which is covered by a D&O policy. In a Management Liability policy, both D&O hazards and Professional Liability hazards are covered.
Some of the coverages offered by a Management Liability policy are for regulatory actions, civil litigation, failure to supervise outside service providers, conflicts of interest issues, allegations of unprofessional services, and much more.
Typical businesses that are candidates for Management Liability:
Any Corporation not tightly held
Corporations with Private Investors