AXA Commercial has launched an enhanced Management Liability insurance product under its ‘Prevent and Protect’ banner. The new offering, called Management Liability Prevent & Protect (MLP&P), is designed to help businesses better manage risk and provides expert guidance at no additional cost. MLP&P includes three types of insurance cover: Directors and Officers Liability, Company Legal Liability, and Employment Practices Liability.
The enhanced MLP&P offering features several benefits, including:
- Availability to businesses with turnovers of up to £100m (previously £50m)
- Wider range of trades covered and digital availability
- Enhanced coverage with new covers and increased limits
- Access to a large online library of informative documents and templates
- Legally privileged expert advice and representation
- 24/7 Crisis management support
Management liability insurance covers various issues not included in other business policies, such as legal action against directors, health and safety issues, data breaches, or fraudulent attempts by employees or third parties. AXA’s MLP&P aims to both prevent claims through education and preparedness and provide support if a claim occurs.
“Management liability is a growing market, and we’ve seen a 50% increase in demand over the past four years,” said Callum Taylor, AXA Commercial UK Technical Director. “For us, prevention is key. Virtually every SME will need to speak to a solicitor at some point, so we’re offering our customers access to tried and tested expertise from law firm rradar as part of their policy.”
AXA Commercial supports over 70,000 Management Liability customers and had more than 300,000 interactions with businesses seeking help and advice in the past year, mostly related to HR issues. The partnership with rradar has enabled AXA to differentiate its policy and deliver a market-leading proposition.
