Running a business unfortunately requires you to worry about more than just your services to your customers.
You also have a range of other things related to the business to keep on top of, things like making sure you meet all your statutory obligations, that your employment practices are fair, and your financial reporting and tax liability, to name just a few.
Even worse, you can be presonally liable for breach of these obligations and they are changing all the time.
ML is a policy that packages a few different covers together which all relate to the management of your business. It usually includes:
Director and officers liability, which covers your personal liability which comes out of management of the business.
Employment Practices Liability, which covers your liability from employment of your staff.
Tax Audit, which covers your liability for accountant’s fees to an audit by the tax office.
Tipically it covers things like:
Examples of typical exclusions are:
1Factor 1 – which covers you choose, you can choose any combination of the three covers, but obviously you pay for each one that you choose.
2Factor 2 – the size and type of your business, the bigger your revenue, the more insurers charge for Directors and Officers Liability insurance and Tax audit, and some types of business also have more exposure to losses than others.
3Factor 3 – the number of employees you have, if you choose Employment Practices Liability, the more employees, the higher the premium
4Factor 4 – the amount of insurance (the limit) you choose. With Fusion ML you can choose for each cover, the more you decide to buy, the more it costs:
If you’d like to have a conversation with one of our team, please send us your name, email and phone number and we’ll get back you to as soon as possible.