MLP is an insurance product that helps protect directors, managers and commercial businesses from claims alleging ‘wrongful acts’ in the management of a business or the discharging of duties as company directors.
In addition to everything previously covered, our new MLP wording responds to existing, past & potential employees. It is divided into two main sections and also provides the following:
DIRECTORS & OFFICERS LIABILITY COVER:
- Indemnity in respect of claims incurred or first made against during the policy period
- We will indemnify the company for any claim for a wrongful act where an indemnity has been given or is lawfully required to be given by the company to you.
- Company indemnity for any claim made during the policy period for a wrongful act.
- Reimbursement of PR Consultancy fees to avert a claim
- Cover for previous and existing directors, officers, trustees & managers of the company
- Lawful spouses are covered where a recovery is sought due to joint property interests
- Heirs, assigns or legal representatives in the event of death or incapacitation
- Investigation costs up to the Policy limit
- Cover for directors retiring during the Policy period
EMPLOYMENT PRACTICES COVER:
- Wrongful dismissal
- Termination of employment (actual or constructive)
- Employment related misrepresentation
- Unfair dismissal
- Unequal pay
- Unlawful deduction of wages
- Discrimination on the grounds of sex, pregnancy, disability, age, race, religion
- Sexual or other harassment or employment related humiliation
- Invasion of privacy
- Wrongful discipline or failure to adopt adequate employment or workplace policies
- Victimisation
- Wrongful deprivation of any career opportunity.
- Defamation
These are just some of the protections that the new MLP wording provides. You can check this link if you want to read about some examples of protection.
A member of our team would be happy to discuss our offering in detail with you, do not hesitate to contact us today.
Email us at info@custodianinsurance.co.uk or give us a call on 03333 448 535
