One of the greatest exposures facing all businesses these days is the increasing regulation being imposed by Gov’t bodies, including a business’s responsibilities towards their employees.
The regulation can come from several bodies, including WorkCover, Fair Work Australia, the EPA and the various State Gov’t Transport departments and with an increase in regulation comes an increase in exposure to companies and individuals that can be deemed non-compliant.
In response to increasing regulation, the insurance industry has developed several products to protect businesses and the individuals that own, manage and work in those businesses.
The various sections of the Policy are:
These policies are designed to not only cover the business, but also the Directors, Officers and Employees that work within that business.
Whilst these policies are broadly accessible, there are certain fine-print exclusions which can render the wrong policy useless. One such example is the Traffic exclusion under most policies which means that any fines associated with the movement of a vehicle would be excluded. For this reason, it is vital that your insurance programme is put together by a qualified professional to ensure that you receive full protection come time of a claim and that you aren’t left exposed to an uninsured loss.
With vast experience in this class of business, including the successful settlement of a number of large claims, you can rest assured that the team at Carriers will design the most appropriate programme for you.
Please click here to discuss a quote for Management Liability with one of our team.