Partners liability insurance, or management liability insurance, is insurance cover that offers financial protection to those who are the partner or officer of a company or business entity.
It is designed to cover the cost of claims for compensation made against the insured individual. Effectively the same as a Directors & Officers Liability policy.
Being a partner or officer of a company or business brings with it certain responsibilities – to employees, members of the public, investors and regulators.
It also exposes the individuals holding the positions of partner or officer to personal liability for the actions or omissions they make in the performance of their company duties. This means that they can personally be the subject of claims which could lead to the payment of fines, compensation or worse.