Management plays a critical role in determining the direction and performance of organizations. Failure to fulfill management responsibilities can often have adverse affects on the organization. These adverse affect often result in lawsuit against management. These lawsuits not only threaten the hard-earned personal assets of the individual, but also the organization’s assets. Regardless of whether the individual or organization is held liable, defense costs can be financially draining. If properly designed and implemented, a management liability policy can protect organizations from management liability, covering the cost to both defend claims and cover damages.
Lawsuits against companies and managers can come from several sources including:
With the help of Clarke & Sampson you can be confident, knowing that your management liability insurance program can protect the financial well-being of both your company and the personal wealth of your managers.