Professional Liability Insurance for Management
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What is Professional Liability Management Insurance
If you provide management services, including: financial, accounting, human resources, production, operations, sales, etc., you could be held liable if something goes wrong under your direction. Whether it’s an issue with the performance of an employee or the quality of the service your organization offers, you could be accused of negligence and legal action may be taken against you and your business.
Many companies have Directors and Officers Liability Insurance, but this type of policy typically doesn’t cover services carried out in your capacity as a manager. You may not be completely protected should legal proceedings take place.
That’s why EasyCover offers Managers’ Professional Liability Insurance (also known as Errors and Omissions Insurance). This specialized type of coverage goes above and beyond Directors and Officers Liability insurance, offering additional coverage should you face legal proceedings due to services or advice you provide in a managerial capacity which causes financial loss or damage to reputation.
Examples of Professional Liability Management Insurance
Typical scenarios for claims can include:
After dismissing an employee, you may be faced with allegations of wrongful termination from the disgruntled ex-employee.
Mishandling of funds:
After working on a project for a client, they accuse you of mishandling their funds or failing to follow the instructions for how funds were to be allocated.
Lack of corporate governance:
Shareholders may perceive some poor business decisions as resulting from lack of corporate governance, ultimately lowering the value of the company.
Management Professions We Cover
At EasyCover, we offer Professional Liability Management Insurance for a wide range of roles, including:
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