MANAGEMENT LIABILITY
DIRECTORS AND OFFICERS

Running a company, whether it’s large or small, comes with its fair share of risk. A company and its directors face both a personal and corporate liability exposure from numerous stakeholders including the following:

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· Shareholders

· Employees

· Competitors

· Creditors

· Regulators

· Customers

· Liquidators / Administrators

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When a breach of company law or regulation is alleged, the focus is on your conduct as a manager and as a company. You may think a claim is completely baseless or without merit, but it will still cost time and money to defend successfully.

Types of claims you or your company could face include:

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· Breach of directors' or officers' duties

· Breach of fiduciary duty

· Defamation

· Breach of the Trade Practices Act, and other statutes

· Workplace health and safety proceedings

· Infringement of intellectual property rights

· Breach of confidentiality

· Allegations of illegal or improper conduct

· Employment practices claims (bullying, sexual harassment or unfair dismissal)

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Having the right Management Liability or Directors’ and Officers policy in place can help alleviate the financial burden of these types of claims.