Management Liability

Insurable exposures that fall under this area include:

Directors and Officers Liability: In general, individuals and the entity can be held liable against any alleged breach of the duties of reasonable care, loyalty, and obedience, neglect, error, misleading statement, omission or act by a director or officer:

Employment Practices Liability: Liability arising out of allegations of discrimination, sexual harassment, wrongful termination, failure to employ/promote, wrongful discipline, etc. by employees or by third parties outside of your company.

Fiduciary Liability Insurance: Fiduciaries of employee benefit plans are expected to act in the best interests of the plan participants. Under the Employee Retirement Income Security Act of 1974 (ERISA), if this duty is compromised, either intentionally or unintentionally, fiduciaries and trustees can be held personally liable for losses. Any employee who has discretionary authority over a plan or who assists in its administration can be a fiduciary and thus be exposed to liability.

Privacy Liability: Data storage, email, and storage and management of private information on computers create an information risk that can be protected by privacy liability coverage. Coverage is available for third-party claims related to privacy injury, identity theft, or network damage.