Rinkos Insurance Solutions is a market leader in insurance broking. We help clients better quantify and manage risk to survive and thrive.
Being a Network Partner of one of the largest insurance broking companies, we have the capacity to handle a broad range of risks on either a direct or a wholesale basis.
Drawing on solid relationships with London and global markets we’ll do our utmost to find the right solution for you.
Management liability insurance gives the necessary protection against the potential dangers of running a business. The management of a business can be under constant threat of exposures and risks, which can lead to mismanagement claims by third parties. If a company does not provide reassurance to its leaders that they will be backed in case their decision proves to be wrong, it can lead to restrained and risk-averse management, preventing company’s growth. A surprising claim can put your business and individual financial position into jeopardy. Moreover, contrary to common belief, if a third-party claims that your mismanagement caused losses to others, it will not be covered by professional liability insurance.
Management Liability Insurance covers the exposures faced by the company’s management. It is a great tool for minimizing potential losses for the directors, managers and other key company entities. Management liability insurance protects them from alleged or legitimate claims of mismanaging the company. It also provides sufficient protection against financial loss for the business and its management for pecuniary penalties, civil fines, and alleged wrongful activities, while protecting the personal assets of members of the company. Management Liability Insurance can be broad and provide many forms of cover.
Directors and Officers Liability insurance is designed to protect the past, present, and future management of a business. It can cover anyone involved in the management of a company, both directors and employees alike. It provides protection from claims for acts such as:
Entity cover provides direct coverage of your business, not its management. In cases when a lawsuit names the insured company as a defendant, director’s & officer’s (D&O) liability insurance will not provide the necessary coverage. Often seen as an extension of D&O coverage, it covers the organization and its management as one entity.
Employment Practices Liability provides coverage for claims made by current or past employees against the company’s management. Bullying, sexual harassment, unfair dismissal, and discrimination claims can arise, and the management liability insurance provides the necessary protection for these employment issues.
Many company owners often overlook the importance of management liability insurance. If directors and officers are exposed to personal liability, the future and reputation of the business may be destroyed, and the members of the management may be forced to give up personal assets or even face jail time. Having insurance to as a backup can empower directors and managers to lead with self-trust and enthusiasm.
Most relevant news of the Rinkos Insurance Solutions
Lloyd’s is proposing to transfer certain EEA insurance policies to Lloyd’s Brussels.
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Rinkos Insurance Solutions is a licensed insurance broker regulated by the Bank of Lithuania (License No. 0060). For additional legal information please visit the Terms and Conditions section.
