Directors and Officers’ Liability (D&O)
Directors and Officers Liability (D&O) insurance offers protection for the executive bodies (management and board of directors) of a company. This protection may be necessary if the board of directors is accused of a breach of duty and compensation (for financial losses) is demanded. In principle, the company takes out this insurance for its executive bodies. However, private individuals can also take out insurance for individual mandates.
D&O insurance offers protection for the private assets of the members of the Management Board and for the Board of Directors. It is particularly important for the
Coverage of compensation payments and defense costs.
Depending on the provider and the company's wording, coverage extensions can be offered. These include, for example, third-party mandates, company coverage in the event of exemption, loss of directors (key man cover), costs in connection with special investigations, organizational legal protection or support with company statements.
In addition, legal protection and/or cyber components can be insured, such as precautionary legal advice costs, criminal legal protection against financial loss, data legal protection against financial loss, costs to mitigate reputational damage, defense against claims for injunctive relief and information, defense against unjust enrichment and return claims, or defense against personal injury and property damage.
Assistance services in the area of prevention can round off the offer.
In the event of intentional breaches of duty, there is no entitlement to benefits.
