Liability insurance for members of a company’s managing authorities D&O
This insurance is intended for companies in which the members of statutory and supervisory bodies authorised to carry out the company’s management and external representation are liable, with all of their assets and regardless of fault, for the damage they cause to the company or third parties by violating their legal or contractual obligations.
Members of company’s bodies have statutory obligations the unintentional breach of which may cause extensive loss. The D&O insurance includes the liability of the statutory and supervisory body for any financial damage caused by it to the company or third parties in the performance of its functions.
D&O insurance is convenient
- For the company itself – allows it to reduce the risk of deteriorating the company’s economic situation due to an error of a member of the statutory body
- For shareholders, business partners, associates, creditors who have easier recoverability of their claims
The insurance covers the liability for financial damage incurred in connection with the performance of the function of a member of the company’s statutory or supervisory body.