The management and supervisory bodies of a company bear responsibility both internally (internal liability) and externally (external liability). Directors and Officers (D&O) insurance shields company executives and supervisors from financial losses stemming from their personal liability if they are formally accused by partners, shareholders, creditors, or clients. This insurance primarily safeguards against liability claims under civil law.
The risk of managers facing financial accountability is not a recent development. Tighter laws and regulations, shifting economic landscapes, heightened public and media scrutiny, and the rising emphasis on “shareholder value” have made these risks more prevalent. They bear personal liability for any errors with their assets. Moreover, challenging economic climates and corporate collapses further shape the attitudes of partners, shareholders, creditors, and customers towards claims.
Our team of professionals, well-versed in finance and insurance, offers comprehensive insights into these new risks for managers and supervisory bodies. You can count on the fact we will have a deep understanding of risks specific to your position, company, and industry.
GrECo’s financial lines experts have always acted proactively and with foresight in the face of a hardening market. We are always in ongoing discussions with all insurers, to anticipate underwriting decisions and set the course for new business and policy renewals in time. Our proven expertise and localised knowledge provide you with solutions tailored to the needs of your company and industry.
We offer multiple benefits to our clients which enable you to take care of your business and have peace of mind.
Using our knowledge of the risk appetite and underwriting requirements of the coverage markets, we identify the most suitable insurance partners for you. In so doing, we achieve the best possible negotiation results in terms of quality and price without time pressure and with transparent and up-to-date risk information.
We always ensure high levels of coverage through participation and layer structures. If required by your corporate set-up, we can also design legally compliant insurance programmes with local policies for foreign subsidiaries to ensure smooth claims settlement.
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Brian Alexander
Group Practice Leader Financial Institutions
T +43 664 962 39 17