Business Practices Protection
- Management Liability
- Private companies with revenue up to $100m
Product Overview
Business Practices Protection by Specialist Underwriting Agencies Pty Ltd offers a flexible way for private companies to manage their business risks. This product is built for Australian businesses with up to $100 million in revenue, making it a practical choice for many growing firms.
About Business Practices Protection by Specialist Underwriting Agencies Pty Ltd
This insurance brings together four main types of cover in one policy: statutory liability, employment practices liability, directors and officers liability, and company liability. Businesses can also add extra protection for employee fraud and tax audits, so the cover can be tailored to suit different needs.
Business Practices Protection by Specialist Underwriting Agencies Pty Ltd automatically covers all subsidiary companies, which helps simplify things for business owners. The policy is available across all states, with limits of indemnity up to $10 million and a minimum premium starting from $1,000 per year.
This product is only available through insurance brokers, which means clients get professional advice every step of the way. If you want to learn more or get a quote, check the ‘Contact Underwriter for Quote’ option and other resources on this page.
Business Practices Protection by Specialist Underwriting Agencies Pty Ltd FAQs
What is business practice protection insurance?
Business practice protection insurance is a type of management liability cover for private companies. It helps protect against claims from employment practices, statutory breaches, and management decisions, and can include cover for directors, officers, and the company itself. Business Practices Protection by Specialist Underwriting Agencies Pty Ltd is an example of this insurance, offering a modular policy for Australian businesses.
What types of businesses are eligible for Business Practices Protection by Specialist Underwriting Agencies Pty Ltd?
This policy is designed for private companies in Australia with annual revenues up to $100 million. It is not available to public or listed companies, focusing on small to medium-sized enterprises seeking management liability cover.
Does Business Practices Protection include cover for subsidiaries?
Yes, the policy automatically covers all current and future subsidiary companies. There is no need to list each subsidiary separately, which helps simplify administration and ensures ongoing protection as the business grows.
Are there any industry restrictions for businesses applying for Business Practices Protection by Specialist Underwriting Agencies Pty Ltd?
The policy has a broad occupation appetite, making it suitable for most private companies across many industries. There are very few industry exclusions, allowing a wide range of Australian businesses to access management liability protection.
Does the policy provide coverage Australia-wide?
Yes, this policy is available in all Australian states and territories. This ensures private companies across the country can access the same level of protection, regardless of their location.
Can a business tailor the policy to suit its specific needs?
Business Practices Protection by Specialist Underwriting Agencies Pty Ltd is modular, allowing businesses to select core coverages and optional extensions to fit their needs. Core coverages include statutory liability, employment practices liability, directors and officers liability, and company liability, with optional extensions for fidelity guarantee and tax audit. This product falls under commercial insurance, and more information is available on the commercial insurance category page.
Management Liability
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