MANAGEMENT LIABILITY

If you have employees, and even if you don't, your business has management liability.

In today’s dynamic and technology-driven business climate, every decision a director, manager, officer or employee makes has the potential to be scrutinized by just about everyone you do business with—clients, vendors, shareholders and even other employees.

Director and Officer Liability

Director and Officer Liability Insurance can protect management (directors/officers) and employees from intentional or unintentional bad decisions that could have a devastating effect on your company’s profitability and long-term success. This type of insurance covers defense costs and unanticipated damages, should any of your employees be named in a lawsuit, regulatory action, or face allegations of misrepresentation or breach of fiduciary. If your company is designated as public, private or nonprofit, or if you make decisions for your organization, you are exposed without directors’ and officers’ liability insurance.

Employment Practices Liability

Your company is more likely to face Employment Practices Liability claims than general liability actions. These claims include allegations of sexual harassment, fair pay discrimination, wrongful termination and employee misclassification. Employment Practices Liability Insurance (EPLI) covers employers’ defense costs and losses from employment-related claims including defense costs, wage and hour disputes, allegations of discrimination, harassment, retaliation and unlawful termination.

Our knowledgeable team at IQ Risk Insurance Services has over a decade of experience helping successful companies protect their businesses with Management and Employee Practices Liability Insurance.

Professional Liability

Your company’s success often depends on your customers’ and vendors’ trust in the services, advice or counsel you provide. And allegations of misrepresentation breach of contract or wrongful business practices can destroy your business. It can happen more easily than you might think—when a customer claims that something you’ve done has cost them money or caused them harm—and they decide to sue you and/or your company.

If you offer any type professional services that include making recommendations or providing solutions that represent the interests of your customers, you’re assuming a professional liability and should be protected with professional liability insurance. And you don’t have to just have shareholders to be exposed, since claims can also come from customers, partners, vendors, employees, and creditors. A claim against your organization’s leadership can mean costly civil, criminal, judicial, administrative, regulatory or arbitration proceedings. Worse still, judgments and settlements can reach into your personal assets.

Professional Liability Insurance protects businesses against charges of negligence or harm, based on a professional service or advice provided. Also known as Errors and Omissions (E&O) Insurance, Professional Liability Insurance covers defense costs, judgment, settlements and fines or penalties resulting from the allegations of misrepresentation, breach of professional services, wrongful business practices, misleading advice and conflict of interest.

Our knowledgeable team at IQ Risk Insurance Services has over a decade of experience in dealing with professional liability issues. We can help protect you and your management team and ultimately the successful company you’ve worked hard to build.

Commercial Crime Insurance

As a small business owner and employer you need to be certain your business is protected against any dishonest acts of your employees including damage to your property, fraud or theft of a client’s property.

Below are the types of things criminal activities covered and that negatively impact businesses of all types:

• Employee dishonesty
• Computer and funds transfer fraud
• Forgery or alteration
• Money and securities
• Theft of your businesses' property