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Management Liability - Benchmark

We are delighted to present to the market the new and improved BENCHMARK Management Liability policy.

After extensive consultation with brokers and their clients the resulting BENCHMARK product delivers a comprehensive and robust solution to the multiple exposures faced by small to medium companies in Australia.

LAUW will consider submissions from a broad industry spectrum.

The application process has been streamlined by utilising a short form proposal form to enable a quick and faultless turnaround of applications. Policy documentation will be issued within 24 hours (working day basis) of the order being given in line with LAUW’s standard operating procedures, subject to no outstanding subjectivities.

Commission of 20% will be payable to all brokers that place Management Liability business with LAUW.

Among the many enhancements are:

 

  • Statutory Liability Extension
  • Nil Deductible for Company Reimbursement
  • Two New Insuring clauses: Entity Cover and Fiduciary Liability
  • EPL Entity to $2m sub-limit

 

Additional enhancements are:


  • Comprehensive definition of 'Director' and 'Officer'
  • Comprehensive definition of 'Company'
  • Cover for damages and costs awarded against the Directors or Officers
  • Cover for Employment Practices Liability (Entity)
  • Cover for Fiduciary Liability (e.g. arising from managing Pension Plans)
  • Cover for Costs incurred by the Entity
  • Advancement of Defence Costs
  • Cover for Costs incurred in Investigations and Disciplinary proceedings
  • 12 Months Extended Reporting Period
  • 72 Months Run-Off cover for retired Directors and Officers
  • Comprehensive Cover for 'Not for Profit' Outside Directorships
  • Cover for Subsidiaries
  • Run-off cover for Subsidiaries
  • Run-off cover for covered Outside Directorships
  • Cover for Liabilities faced by Spouses
  • Cover for Liabilities faced by Estates and Legal Representatives
  • Cover for Civil Fines and Civil Penalties
  • Cover for Costs incurred in respect of Occupational Health and Safety
  • Cover for Costs incurred in respect of Pollution Defence
  • Cover for Costs incurred in respect of Loss of Reputation
  • 'Assets and Liberty Costs Cover'
  • Reinstatement of Limit for Non-Executive Directors
  • Cover for Fidelity
  • Continuous Cover ('Innocent Non-Disclosure')
  • Cover for 'Prior Acts' (Retro-Active Liability Cover)
  • 'Order of Payments' Provision
  • Aggregate 'Costs-Inclusive' Limit of Liability
  • Claims-Made Policy
  • World-wide Jurisdiction (in respect of U.S.A. - sales only) can be given


For more informations and to download the proposal from please go to www.lauw.com.au

 

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