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Liability insurance for members of company bodies

In cooperation with the renowned insurance advisor and broker INSIA we offer our clients the opportunity to take out liability insurance for members of commercial companies’ statutory / supervisory bodies. The insurance is intended to cover the damages caused as a consequence of action by a member of a board of directors or supervisory board or by an executive. The client itself can choose the limit of the insurance benefit. Damages, the costs of any legal representation and other company expenses can be covered by the insurance.

When are a company’s statutory / supervisory bodies liable for damage?

• when making investments that have a negative financial result for the company
• when breaching the confidentiality obligation
• when keeping company accounts incorrectly or inconclusively
• when damaging the company’s good name
• when breaching the obligation to perform office with due professional care
• when breaching the ban on competition
• when a fine or penalty is imposed on the company due to incorrect decisions concerning consumer protection, economic competition or other state regulation
• when breaching the obligation to act in the company’s interests
• when breaching an obligation laid down in the performance of office contract

Liability insurance for members of a company’s bodies covers dozens of cases in total.

Who can be insured?

• members of statutory / supervisory bodies
• employees - in the company’s management or with an auditing position within the company, or the company’s founder (if it is a physical entity)
• wives, husbands, registered or otherwise recognised partners or heirs of the above persons

The insurance applies to past, current and future managers and employees and subsidiaries.

The insurance is not in a person’s name but by position.

We are entitled to mediate the insurance on the basis of Certification granted by the Czech National Bank.

Please do not hesitate to contact us if you require more information.