How Management Liability Insurance Offers Vital Protection for Tourism Businesses (Article)

All businesses, no matter what type or size, face some risk key exposures. These may involve their management, the business itself or compliance with regulations.

Traditionally the insurance protection for a business’s executives and associated liabilities – directors and officers’ (D&O) cover – was expensive and designed for larger organisations.

In response to the need for smaller businesses to protect themselves a policy that bundles several exposures together was developed: management liability insurance. 

Small businesses are generally regarded as those with less than $10 million annual turnover and less than 20 employees. This applies to many operators in the tourism industry which may share some common risk exposures.