1 / 8

June 5 th 2013

D&O Insurance. June 5 th 2013. Curriculum. General Information History Coverages Limitation Vendors. General Information. Directors and officers liability insurance insurance to manager and executive persons of of the company Focus on those people and not the company itself

onawa
Télécharger la présentation

June 5 th 2013

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. D&O Insurance June 5th 2013

  2. Curriculum • General Information • History • Coverages • Limitation • Vendors

  3. General Information • Directors and officers liability insurance • insurance to manager and executive persons of of the company • Focus on those people and not the company itself • Covers losses and high risk decisions of executive employee • “Personal financial protection” • Motivates employees to take higher positions in the company

  4. History • DevelopedbyLloyd‘sof London • Established in USA in 1930‘s • In the 1980‘s there was a „D&O-crisis“ • Manycompaniestookthechancetoprocuretheinsurance • As a resulttheyadded a numberofclauses in thepolicy • the „D&O-market“ was born • Thereisnostandard D&O-form • Theyused in a similarway (sharedoutline)

  5. Coverages • Insurance covers multiple organs: • Management ofthecompany • Governingbody • General managers • Executive positions • Insurance comes in toaction, if… • … thereisnobadintention • … thereisnolooseofdutytotakecareofthirds (customers, vendors, owncompany/employees) • … theinsuredpersonis not in knowledgeof a fault in thepast

  6. Insurance protectsyoufrombothsides… Inside thecompany Outside thecompany executiveorgans customers employees vendors

  7. Limitation • In caseof a accusationyouhavetokeep in mindthefollowingthings: • The claimantisthepersonwhohastoproof YOUR fault • Youare not guiltyuntilsomeoneisabletoproof a possiblemistake • Ifyouown stock optionsfromthecompanyyouareworkfor, theinsurance will not cover thefullamountwhichisinvolved in thecase • Usuallythereis a compromisebetweenthetwoparties • The insurance will not cover anycostsifyoudidsomethingwith a badfaith

  8. Chartis • Chubb Corp. • The Travekers Companies • ACE Limited • XL Group • Zurich Financial Services • Allianz • HCC Insurance Holdings • The Hartford • CNA Financial Group

More Related