Directors' and officers' liability insurance (D&O insurance)
Management liability insurance protects managers against the financial consequences of claims for damages brought against them due to wrong decisions.
Protection for managers and decision-makers
Manager liability insurance - really necessary?
In today's business world, managers and decision-makers bear immense responsibility. Wrong decisions or breaches of duty can lead to high claims for damages that jeopardize personal assets. Our directors' and officers' liability insurance (D&O) offers optimum protection for managers.
Facts & Figures
FAQ on directors' and officers' liability insurance (D&O insurance)
We have summarized the most frequently asked questions about directors' and officers' liability insurance (D&O insurance) for you in our FAQ. Our experts will also be happy to provide you with individual advice.
Managers bear a high level of responsibility and can be held personally liable if their decisions cause damage to the company or third parties. D&O insurance offers financial protection and covers the costs of legal defense and damages
Manager liability insurance typically covers the following losses:
- Financial losses: financial losses caused by wrong decisions or breaches of duty by managers
- Legal costs: costs for lawyers, court costs and other expenses in connection with the defense against claims for damages
- Compensation: costs that have to be paid to injured parties as a result of legally binding judgments or settlements
As a rule, the following are not covered
- Damage caused intentionally
- Damage caused by gross negligence
- Damage caused by criminal acts
- Contractual penalties and fines
- Claims that were known before the insurance contract was concluded
- Management boards and managing directors: executives in stock corporations, limited liability companies and other companies
- Supervisory boards and advisory boards: Persons who are active in supervisory bodies of companies
- Senior executives: Managers who work in a position of responsibility and have decision-making authority
Yes, there are specialized D&O insurance policies for different industries that take into account the specific risks and requirements of each industry, such as financial services, healthcare, technology companies and non-profit organizations.
Extended liability insurance offers protection for claims that occur after the manager liability insurance has ended but were caused during the term of the policy. This is particularly important for managers who leave the company or retire.
- Damage caused by intentional or grossly negligent behavior
- Damage caused by criminal acts
- Damage caused by already known risks that have not been remedied
- Contractual penalties and fines
Yes, many directors' and officers' liability insurance policies also offer international cover, especially for companies that operate worldwide. However, it is important to check the exact conditions in the insurance contract.
Further insurance solutions
In addition to D&O insurance, we also offer numerous other insurance solutions that could be of interest to you.
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