ALWAYS ON THE SAFE SIDE, ALSO IN EXECUTIVE POSITIONS
Directors’ & Officers’ Liability ( D&O) provides protection for institutions and individuals with executive functions, such as interim managers, authorised signatories, members of supervisory boards, executives, managing directors and agents.
- D&O insurance provides insurance protection in the event that a claim is made against an insured person due to a breach of duty in their capacity – for example, as an institution or an executive employee.
- The insurance covers claims against the institution which arise due to breaches of duty in the internal or external relationship of the company, insofar as these are financial losses.
- The insurance protection includes the verification of the asserted claims as well as defence against unjustified claims for damages and the indemnification of the merchant against justifiable obligations to pay damages.
WHO IS THE POLICYHOLDER OF A DIRECTORS’ AND OFFICERS’ LIABILITY POLICY?
In the case of a corporate D&O , the policyholder is the legal entity, e.g. a stock corporation, a limited liability company, a cooperative or a foundation. The situation is different for a personal D&O and for interim managers: In this case, the institution is both the policyholder and the insured person.
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