Sole Traders ML Insurance
Companies are incorporated and as a result, their Management Liability policies require company reimbursement clauses. Sole traders are not incorporated and, therefore, require bespoke ML insurance. Sole traders Management Liability Insurance protects individual business owners for liability to pay compensation for loss or damage relating to claims made against them for wrongful acts committed in the management of the business.
Capacity
$20m
Coverage
- Bookkeepers
- Individual consultants
- Tradesmen
- Financial planners
- IT consultants
- Freelance writers
- Landscapers and gardeners
- Direct retailers
- Allied health consultants
- Dependent on nature of services undertaken by the sole trader
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Claims Example
Management Liability policies encompass a number of different covers including, but not limited to, Directors & Officers Liability, Company Liability and Employment Practices Liability.
Claims against either an Insured Person or Company can range from demands for compensation or damages to criminal or regulatory proceedings.
Companies regularly seek cover under the Employment Practices Liability extension for circumstances concerning Unfair Dismissal, harassment, discrimination and other related wrongful acts.
Unfair Dismissal claims are typically commenced in the Fair Work Commission via the lodgment of an Application by the claimant party. BIA regularly responds to such applications with the aid of its specialist employment law panel partners and we aim to resolve such matters by the most appropriate means.
Management Liability Insurance
Management Liability Insurance will protect Directors and Officers as well as the Company against a Wrongful Act committed in the management of the Company.
Professional Indemnity Insurance provides protection for your business against a claim made by a client alleging they have suffered a financial loss as a result of your negligence or a breach of professional duty from services provided by your business.
Public & Products Liability Insurance
Public and product liability insurance protects businesses from paying compensation to a third party in the event of personal accidents, injury or property damage resulting from any business activity and manufactured or supplied product.
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Understanding the Difference between Management Liability and Directors & Officers Insurance
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