Management Lines of Insurance

You have the vision. We have the ability to make it real.

We Are Committed to Providing Plans Tailored to Your Business

For more than 50 years, Rooney Insurance Agency has provided insurance solutions to some of the largest companies in the state. Our agency’s reputation is staked on our commitment to providing custom-tailored insurance plans, than address the unique risks our clients face in their daily business operations. Our management lines of insurance represent competitively-priced insurance solutions for any size of public, private, or non-profits organization. You can protect your personal assets, company assets and personnel with our insurance products.

As with other types of business-oriented insurance, management lines consists of several parts, depending on the size and type of the business seeking insurance protection as well as the makeup of leadership roles within the business. Sometimes referred to as management liability insurance, management lines may include:

  • Crime Insurance – protecting assets from loss due to fraud, third-party criminal acts, or employee-related theft.
  • Employment Practices Liability Insurance – protecting the business and its assets from claims of harassment, discrimination, wrongful retaliation, and other named employment practices violations.
  • Directors and Officers (D&O) Liability Insurance – this insurance is designed to protect a company’s leadership structure against claims by shareholders, regulatory officials, and competitors alike.
  • Kidnap and Ransom Insurance – designed for corporate leaders and high net worth individuals, this specialized insurance solution protects against unique threats.
  • Fiduciary Liability Insurance – for companies that provide and administer employee benefit plans, this insurance coverage can provide financial protection against numerous claims.

Claims Scenario

There are many potential threats a company faces as it conducts business. Legitimate or not, claims made against a company, its employees, and its leaders represent a financial risk that can negatively impact the continued operation of the company. Management liability insurance is designed to address these risks, providing coverage for a wide range of scenarios and threats, both expected and unforeseen.

To better understand the role of management liability insurance, consider the following scenario: a large manufacturing firm is facing a downturn in their market, and is forced to reduce staffing levels. Employees affected by the dismissals file a lawsuit against the company and its directors, claiming that they were unjustifiably terminated. Without appropriate D&O insurance in place, the company and its leadership face significant financial challenges, including claim settlements, legal costs, and financial penalties – regardless of whether the dismissed employee suit was valid or not. Costs can exceed millions of dollars, interfering with the company’s ability to continue operations.

With a robust and comprehensive management liability insurance policy, however, claims made against a company are part of the insurance protection. D&O policies typically provide coverage for legal defense of the company and its officers, allowing them to successfully defend themselves against a lawsuit, legitimate or otherwise. Management liability insurance protects a company, its assets, and its leadership from a wide range of potential risk exposures.

Coverage Details

With  our tenure and quality relationships with insurers we provide our clients the coverages they need at competitive pricing.

Each of our clients faces unique challenges as they do business. Not all businesses need full liability coverage, which is why we take the time to understand the specific needs and desires of our clients. With our help, you can protect your business, your financial assets, and your officers from claims against your company.