A specific policy for Administrators and Directors
Individual D&O Insurance
Markel’s Individual D&O Insurance offers comprehensive protection to individual Administrators and Directors against any financial liability they may face when managing and overseeing companies and entities. All in an increasingly demanding legal and corporate environment, since Administrators are subject to claims due to the increased regulation of their actions and to the heightened scrutiny and oversight of their decisions.
This policy is designed for all types of Administrators and Directors who want to be guaranteed exclusive and personal protection for themselves, as well as for individual administrators, independent board members or administrators who are members of several boards of directors.
What claim scenarios involving an insured Administrator or Director would be covered by Markel’s Individual D&O Policy?
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.
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.
Scope of Cover Individual D&O
- 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