Running and managing any business involves some element of risk.
Claims for wrongful acts against a director for mismanagement of the business could come from a number of sources: shareholders, suppliers, customers, creditors, regulatory bodies, current employees, ex-employees and even potential employees.
Some of those risks can involve a director of a limited company taking on personal liabilities.
Our management liability product protects the business and its directors from personal and corporate liabilities arising from the management of the business and its employees.
Custodian aims to provide security to its business customers through strong product offerings underpinned by personal service, access to sensitive claims handling, and a financially secure underwriting partner in Axa Insurance UK Plc.
Our management liability product consists of Directors and Officers insurance and Employment Practices insurance. These can be bought together or separately.
As a business owner, consider what the possibility is of the following happening?
An ex-employee brings an action for wrongful dismissal or termination of employment
An employer is accused of an employment related misrepresentation
An employee brings a claim due to unequal pay
An employee alleges unlawful deduction of wages
An employee alleges discrimination on the grounds of sex, pregnancy, disability, age, race, religion
An employee feels they have been harassed in some way or experienced some employment related humiliation
An employee feels his/her privacy has been invaded
An employee feels wrongfully disciplined
An employer is accused of failing to adopt adequate employment or workplace policies
An employee feels they have been victimised
An employee, or even a potential employee, feels they have wrongfully been deprived of a career opportunity
Most businesses will read this and feel something on this list could happen quite easily. We know from our experience as insurance providers that these things do happen despite the best efforts of the business owners.
Our EPL product is there to give business protection from a variety of exposures that come from running a business.
Following the Companies Act 2006, clear statutory duties were placed on company directors. If a director breaches these duties he can be made personally liable for damages, criminal sanctions and expenses. This means that a director’s personal assets are at risk.
Claims could come from customers, regulators, employees, suppliers, shareholders or other stakeholders. Directors and officers insurance will protect and defend a business in the event of such a claim.
We offer a service that is swift, efficient and discrete. We help ensure the claims handling is sensitive and efficient. Our products have A rated security behind them provided by Axa Insurance Plc
So if you would like to protect your business….
How to get started
To speak to one of our team, call us on 0207 648 4343 and we’ll be happy to help or complete the form below and we’ll be happy to contact you.
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Custodian is a trading name of Custodian Management Ltd and is an Appointed Representative of Advent Solutions Management Ltd.
Advent Solutions Management Ltd. is authorised and regulated by the Financial Conduct Authority.