We live in a sue-happy culture.
In today’s litigious society, lawsuits against businesses are common. And as a business owner, you need to be prepared to protect the integrity of your company if an incident or mistake turns into a claim.
At Comstock, we understand that mistakes happen. That is why we are committed to helping you create a Professional Liability policy that keeps your day-to-day operations protected should your business be held legally liable.
What does Management Liability cover?
While it is important for your business to have general liability coverage for property damage and bodily injury, Comstock Insurance Agencies, Inc. recommends adding Professional Liability Insurance to your business portfolio because it insures the people and/or entities of your business from negligent claims made by third parties, or even internal sources.
From failure to render a service to malpractice suits, Professional Liability can provide a wide variety of options, such as:
- Directors and Officers (D & O)
Having financial protection for your business’s Directors and Officers can prevent loss in the event that they are held liable for actions related to their corporate positions. This can include anything from conflicts of interest to mismanagement of company assets and violation of laws.
- Employment Practices Liability
With proper insurance, your business can be protected if a worker claims that his or her rights have been violated. This can include violations from sexual harassment and discrimination to violations of the Americans with Disabilities Act (ADA), mismanagement of employee benefit plans, and wrongful termination.
- Fiduciary Liability
Fiduciary Liability covers claims that involve the violation of the Employee Retirement Income Security Act, or ERISA. If a manager, for example, violates the financial obligations of ERISA, having the right coverage can protect your company if held liable in situations from imprudent investments to failure to enroll employees.
Package Policies & Save
In some cases, your business can save more by combining your Management Liability Insurance policy with other insurance products. Your agent can determine which products best meet the needs of your business. To find out more about combining coverage policies, contact your Comstock agent today.
Why get Management Liability insurance?
Lawsuits are expensive and can be devastating to your business. Management Liability Insurance protects the people and/or entities of your business from negligent claims made by third parties, or even internal sources. It covers claims beyond those for bodily injury or damage covered by a Commerical General Liability policy.