Is Your Management Liability Policy What It Should Be?
In the current environment, every type of business entity – public corporations, privately held companies, investment firms, financial institutions, non-profit organizations, advisors, consultants and others – should be aware that significant variations exist among liability insurance policies that provide coverage for their directors, officers, general partners, managers, and others involved in managing a business. Whether or not a policy includes a particular provision or endorsement can greatly expand – or narrow – the scope of coverage. In the wake of the investigations, administrative proceedings and litigations arising from the recent financial downturn, this is an optimum time to assess whether your company’s management liability policies provide the appropriate breadth of coverage.