Why UK Jewellers Need Management Liability and Corporate Legal Liability Insurance


As a manager or director of any business, you will want to take appropriate precautions to ensure the financial safety of your business and employees. Management liability and corporate legal liability cover are both there to protect you should things go wrong.

Whatever the nature of your business, if you are in the jewellery industry you will almost certainly deal with a high number of customers and suppliers. You may also have a team of employees. So, what happens if something breaks down in one of these relationships? And is your business covered should a customer, staff member or supplier make a claim against you?

Management liability and corporate legal liability insurance cover could be the best way to protect your business against the impact of such claims.

What is management liability and corporate legal liability insurance?

Management liability and corporate legal liability insurance protect you from claims made against your business. These include personal injury or property damage caused by products sold or supplied through your business.

Management liability is a form of insurance that covers allegations of wrongdoing, directed at managers, directors or the company as a whole.

Corporate legal liability insurance defends claims made against the company rather than individual workers. These claims could relate to employee benefits, breach of data protection, maladministration of a company pension or corporate identity crime.

Management liability and corporate legal liability insurance will usually cover:

  • Breach of duty, breach of trust, negligence or breach of warranty or authority.
  • Personal injury or damage to property.
  • Misuse of data, including a breach of any data protection legislation.
  • Your failure to comply with any taxation guidelines.

Why do I need this insurance cover?

If you run a business, you will need a range of different commercial insurance, depending on the nature of your operations. You may need management liability cover, or you may need both management liability and corporate legal liability insurance.

These insurance covers will help fund the legal costs, court costs and the financial loss you face if a claim is made against you or your business. Without this insurance, you will have to pay out of pocket for any claims made against.

However well you run your business, you could face a claim at any time from someone who feels they have suffered as a result of any shortfall in your duties as a director, officer or senior manager. This includes claims from employees, shareholders and customers.

Even if a claim is false, you must defend it – and this can be costly.

How TH March can help

Management liability and corporate legal liability insurance products vary. That is why it is important to get expert advice to ensure you get the right cover for your business.

Whether you are a large retailer, boutique jewellery, manufacturer, distributor, pawnbroker, repairer or designer, we can help you access tailored products to suit your requirements. Contact us to discuss your needs and we can advise you on which cover is best for your business.