Get to know Sole Traders Management Liability Insurance

What all sole traders need to know

While Management Liability provides protection suited to corporations and small businesses, sole traders require a tailored Sole Trader Management Liability cover that suits their individual needs and exposures.

When doing their research into all the different types of insurance cover available to businesses, sole traders often mistakenly think they will need Management Liability, in order to be protected against a wide range of business threats.

Management Liability Insurance certainly is one of the classic business covers, offering protection for companies against litigation that sometimes arises in response to the actions of certain managers.

However, as the specific needs of sole traders greatly differ from those of large corporations, naturally they require a more customised approach to address their risk exposures.

A significant feature of Management Liability cover is the inclusion of company reimbursement clauses. While of great benefit to large incorporated businesses, company reimbursement clauses have absolutely no relevance to sole traders.

Sole Traders Management Liability Insurance incorporates many of the elements of our standard Management Liability Insurance package, yet has been designed as a custom-made insurance solution for sole traders.

While General Liability covers businesses against claims for personal injuries and property damage, Sole Traders Management Liability Insurance exists to protect businesses from litigation in matters such as sexual harassment, unfair dismissal and workplace discrimination.

Sole Traders Management Liability (STML) Insurance with Berkley Insurance Australia

As a sole trader employing a team of people, an incident where one of your workers accuses their team leader of discriminating against them is just one example of how your firm could become involved in litigation.

Berkley Insurance Australia works closely with a panel of workplace relations lawyers who have extensive experience in providing advice in these matters. When a claim is lodged with Berkley Insurance Australia under an STML policy, our panel lawyers can advise on the best course of action to resolve the matter quickly and minimise our client’s expenses.

In many cases, our team have prevented matters from proceeding to the Fair Work Commission by simply negotiating a mutually agreeable outcome with the complainant.

Being Australia’s foremost specialist insurer, Berkley Insurance Australia’s Sole Traders Management Liability Insurance is for the sole trader who demands protection aligned to their risk exposures.

STML Insurance has been created for sole traders in a diverse range of occupations including IT Consultants, Landscape Gardeners, Allied Health Professionals, Shop Owners, Tradies, Bookkeepers, Financial Planners and Copywriters to name just a few.

Our STML Insurance is a specialised product created to meet the unique needs of our sole trader clients. Give your business that extra degree of peace of mind with Berkley Insurance Australia.

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