How Long Do You Need Management Liability Insurance?

When you are looking for management liability insurance, you want to find a company that has specialists who know your particular industry well and thus are equipped to create a package that meets your unique needs. Axis management liability coverage is tailored to your industry. You work with an agent who knows the kind of coverage you require so that you are not caught unaware if a problem arises.

The policies are typically claims-made coverage. This mean that they generally cover claims made during the time the policy is active, regardless of when the event in question allegedly occurred. You can often purchase additional insurance to cover claims that come in after the policy has expired. The rates for this extra coverage can be hefty, but if a claim is made against your business during that time, the price of the insurance may be worth it.

Most policies have a minimum standard limit of $1 million, but if you and your agent decide you need more coverage, of course that is possible. Most Axis management liability coverage has an aggregate limit and an individual claim limit. It’s important to discuss what your policy covers and its limits with your agent so that you end up with the best package that works for you.