Upcover's New Management Liability Insurance: A Boon for SMEs

With premiums starting at $780 per year for a $1 million coverage limit, Upcover's management liability insurance aims to make robust protection accessible and affordable for smaller businesses. Coverage limits extend up to $10 million, catering to a diverse range of business sizes and needs.

Upcover's CEO and Co-Founder, Skye Theodorou, emphasized the importance of this product in the current business environment. "The cost of litigation defense can be devastating to Australian business owners and sole traders who don't have adequate cover," Theodorou stated. "We're making it our mission to create a tailored range of go-to options that take the hassle out of purchasing insurance."

Founded in 2019, Upcover has been at the forefront of developing innovative insurance solutions tailored to the unique needs of Australian businesses. The company's offerings are underwritten by ProRisk, with authority to bind cover on behalf of Swiss Re, ensuring reliability and financial stability.

For SMEs and sole traders, this new management liability insurance provides a safety net against potential legal and financial challenges that could arise from various operational risks. By securing appropriate coverage, business owners can focus on growth and development, knowing they are protected against unforeseen liabilities.

In conclusion, Upcover's latest product launch represents a significant step forward in addressing the insurance needs of Australia's SME sector. By offering comprehensive and affordable management liability insurance, Upcover is empowering business owners to navigate the complexities of the modern business landscape with confidence.