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Management Liability Insurance

Management Liability Insurance

Management liability insurance is a combination of several business policies. The policies are all related to management issues. Generally, this type of policy will combine at least two or more of the following policies:

– Employment Practices Liability Coverage
– Fiduciary Liability
– Crime Insurance / Cyber Liability
– Directors & Officers Liability
– Professional Liability / Errors and Omissions Liability

Combining these policies provides coverage that’s more comprehensive than simply having one policy or another. This is especially helpful in situations that aren’t clearly defined.

For instance, it may be impossible to determine if a claim is the result of bad professional advice, which directors and officers liability doesn’t cover. But the claim could be the result of the actions of a negligent office, which is an action covered by the directors and officers policy. With a management liability policy, both situations will be covered.

Regulatory actions and civil litigation are most commonly covered by management liability policies. But the policy may also cover events such as failure to supervise service providers, conflicts of interest, and allegations of unprofessional services or behavior.