A market first Management Liability product specifically for Sole Trader and Partnership structures.
Traditional Management Liability policies have been designed to cater for Incorporated Entities (think ‘Pty Ltd’), so they haven’t been suitable for Sole Traders and Partnerships. As a pioneer in the Management Liability space, DUAL is committed to continuing to bring innovation to the market and helping brokers address this key uninsured exposure irrespective of the client's entity structure.
Did you know?
In 2017 there were 2.2 million actively trading businesses in Australia*. Almost 840,000 of these businesses were Sole Traders and Partnerships...That’s more than a third of all Australian businesses!
Why has DUAL launched this product?
We have consistently received feedback from brokers that Management Liability is a key uninsured exposure for Sole Traders and Partnerships. In the past two years on the WebRater, over 2,000 Indications have been referred due to a client being a Sole Trader or Partnership – proof that these businesses have been crying out for some type of Management Liability cover!
Cover is based on our new DUAL Australia Sole Traders and Partnerships Management Liability Wording, click here for a copy.
For a detailed overview of the ML Sole Traders and Partnerships Product, click here for a copy of our Open Market ML Sole Traders and Partnerships profile. If you need further information please contact your local DUAL Underwriter.
I will be offering this to nearly all of my clients who are in this Sole Trader/Partnership space with better understanding now. Good job!