Management Liability Insurance is a combination of several policy coverages. It would include at least two of the following:
Directors & Officers Liability (D&O)
Professional Liability (Also Known as Errors and Omissions Liability)
Crime Insurance Including Cyber/Technology Breaches
Employment Practices Liability Insurance
Many times, it may be impossible to determine if a claim results from “Professional Advice,” 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