D&O Excellence Plus
Insurance for Administrators and Directors
D&O Excellence Plus Insurance
Markel D&O Excellence Plus protects Administrators and Directors against third-party claims (such as from shareholders, employees, creditors, public agencies and the company itself).
The main goal of this policy is to protect the personal wealth of the Administrators or Directors from the financial damage caused to third parties as a result of their negligent management or for breach of duty in their office or for actions contrary to the law or to statutes.
Markel D&O Excellence Plus for your peace of mind
Markel D&O Excellence Plus offers the peace of mind that Administrators and Directors need to perform their duties, since they are more exposed than ever to being subject to a claim due to the increased regulation of their actions and to the heightened scrutiny and oversight of their decisions.
This policy covers the legal expenses of defending a claim, the posting of bonds needed to meet civil liabilities and any compensation covered under the policy that they are required to pay.
What might happen? Examples of claims
Corporate liability action
Individual liability action
The Court sentences the administrators to both recognise the status of the buyer as a shareholder and to pay him for any resulting damages.
Liability for the company’s debts
The administrators are sentenced, along with the company, to pay the company’s debts.
The bankruptcy court issues an evaluation report that suggests a culpable insolvency, which the judge eventually declares, sentencing the administrator.
The Court sentences the administrators to pay the company’s deficit.
The insurance company pays the banned administrator the maximum specified in the policy, since in the event of a culpable insolvency, the judge always bans the administrators.
Disciplinary procedure initiated by an administrative body
Scope of Cover D&O Excellence Plus Insurance
- Directors’ & Officers’ liability
- Defence costs advance
- Legal representation costs
- Extradition costs
- Publicity costs
- Risk management costs
- Civil bailbonds & constitution costs of criminal bailbonds
- Employment practices liability, with entity cover
- Entity cover in securities claims
- Automatic inclusion of new subsidiaries & associated companies
- Administrative sanctions
- Professional disqualification
- Liability arising from insolvency proceedings
- Constitution costs of bailbonds in insolvency proceedings
- Liability arising from taxation