Protect Your Directors
Residentsline understands that as a Director or Officer of a Residents’ Management Company, Residents Association or Right to Manage Company, you could be personally held liable for errors or omissions in the running of your Company or Association.
Residentsline understands that as a Director or Officer of a Residents’ Management Company, Residents Association or Right to Manage Company you have many legal responsibilities and could be personally liable for decisions made or actions taken whilst working in your position as a Director or Officer.
What is Management Liability Insurance?
Management Liability Insurance includes both Directors and Officers Liability Insurance and Corporate Liability Insurance in one policy wording.
Management Liability protects Directors and Officers AND your Company for claims made against them for wrongful acts committed solely by reason of their acting as a director or officer of a company.
Policy cover includes the cost of defence, and in some cases the amount of awards and damages, as a result of claims and prosecutions made in a wide range of situations.
Why you need Management Liability Insurance?
Directors of Resident’s Management Companies, Residents Associations and Right to Manage Companies can have a liability for any acts which are negligent, outside their authority or in breach of duty or trust. The potential for claims is wide ranging, and can be from internal or external parties. View claims examples here.
Why You Need Cover
More about our comprehensive cover with AVIVA Insurance.
Request a Quote
Request a quotation for Directors and Officers Liability Insurance.
Get Directors and Officers Liability insurance in place today.
Claims for Unfair Prejudice pursuant to s994 of the Companies Act (allegations that company affairs are being, or have been, conducted in an unfair manner, and which is prejudicial to the residents’ interests, i.e. attempted exclusion from management and/or abuse of power / breach of Articles of Association):A claim for unfair prejudice relating to a former director’s exclusion from management, contrary to the Articles of Association, resulting in his resignation. Defence costs were in excess of £5,000.