Leader Protection
Management Liability Insurance for Minnesota Business Leaders
Protect the decision-makers in your company with management liability insurance. Our coverage safeguards your business leaders from personal liability, allowing them to lead with confidence and security.
Your Questions
Management Liability Insurance FAQs
Management liability insurance can feel complex. Here, we answer common questions to help you better understand the coverage that protects your leadership team.
What is management liability insurance?
Management liability insurance provides essential coverage for business leaders. It protects directors, officers, and executives from personal liability in business-related claims. This coverage includes Directors and Officers (D&O) liability, employment practices liability, and fiduciary responsibilities, helping to protect them from financial risks tied to their roles.
What does Directors and Officers (D&O) insurance cover?
D&O insurance covers claims brought against directors and officers for decisions made in the course of their duties, such as shareholder disputes or allegations of mismanagement. This coverage shields leaders from personal financial loss and provides legal resources to manage these claims.
Why is employment practices liability important?
Employment practices liability (EPL) protects your company from employee claims, such as discrimination, wrongful termination, and harassment. In today’s workplace, these claims are common, and EPL coverage is essential to protect your business’s reputation and finances.
Does management liability insurance include coverage for fiduciary duties?
Yes, fiduciary liability insurance is an essential part of management liability. This coverage protects against claims related to managing employee benefits and retirement plans, ensuring that leaders responsible for these programs are protected from potential personal liability.
Who needs management liability insurance?
Management liability insurance is valuable for any business with directors, officers, or managers. It’s particularly important for companies with shareholders, employee benefits plans, or a larger workforce, as these elements carry greater exposure to claims and legal risks.
Can I customize my management liability insurance to fit my business needs?
Absolutely. We offer flexible options that allow you to tailor your coverage to your unique business risks. From expanded D&O coverage to specialized employment practices protection, we work with you to build a policy that fits your company’s leadership needs.
How much does management liability insurance cost?
Costs vary based on factors like company size, industry, and coverage limits. We’ll work with you to create a management liability plan that balances comprehensive protection with budget-friendly options, ensuring your leaders are well-protected.
Why choose Garry Insurancenter for management liability insurance?
As a family-owned agency with decades of experience serving Minnesota businesses, we understand what it takes to protect your leadership team. Our local knowledge and personal support mean that you’ll receive tailored, dependable coverage, so your leaders can make decisions with confidence and security.
