Basic cover
- Personal liability of directors
- Protection of personal assets
- Defence & representation costs
- Mistakes by fellow directors
Directors' and officers' liability insurance through Hienfeld
Directors' and officers' liability reaches your private assets. The form we use through Hienfeld is aimed at boards with several members who can be held jointly and severally liable.
- several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
This page in another language: Nederlands
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
- We compare the offerings of several insurers
- An adviser checks whether the cover suits your situation
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
- Independent advice
- Several insurers
- Switching arranged
- Help with claims
In brief
A directors' and officers' liability insurance insures not the legal entity but the person who manage it. If you are held liable over a decision, it is your own assets that are at stake: your house, your savings. The standard is Article 2:9 of the Dutch Civil Code, which requires proper performance of duties from every director, and towards third parties Article 6:162 DCC.
We use this form above all for boards consisting of more than one person: foundations, associations, cooperatives, family businesses and organisations with a supervisory board. That is where joint and several liabilitycomes into play. The board as a whole is responsible for policy, including the part you had left to a colleague.
We are not tied to Hienfeld. What we compare per provider is the group of insured persons, the retroactive period, the run-off after resignation and whether claims by the legal entity itself are insured. For a company with outside shareholders or investors we also look at the form available through Hiscox.
Independent, personal, sorted quickly
We compare your directors' and officers' liability insurance across dozens of insurers, explain where the real differences lie, and arrange the switch from start to finish — without you having to chase it yourself.
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Through Finass or direct with Hienfeld?
The structure of the cover in three parts, with an overview per situation below.
Extended cover
As well as management errors, also claims from shareholders, the insolvency administrator, the Belastingdienst (the Dutch tax authority) and regulators.
- Claims from shareholders & the insolvency administrator
- Claims from the insolvency administrator (bankruptcy)
- Improper management
Complete package
The most complete cover. We compare Hienfeld's extended versions with the market.
- Agency workers, interns & volunteers
- Defence & legal costs
- Retroactive cover (about 3 years as standard)
- Retroactive cover (prior risk)
What is covered
| Situation | AVB | BAV | Cyber |
|---|---|---|---|
| Injury to a visitor or customer | Yes | No | No |
| Damage to a client's property | Provided it is declared | No | No |
| Financial loss caused by an advisory or calculation error | No | Yes | No |
| Downtime after a ransomware attack | No | No | Yes |
| Data breach involving personal data | No | Provided it is declared | Yes |
| Damage to property in your care | No | No | No |
What we do
| What we do | At Finass | Direct with Hienfeld |
|---|---|---|
| Comparison across several insurers | Yes | No |
| Advice based on your own situation | Yes | Sometimes |
| One point of contact for claims | Yes | Sometimes |
| Cancellation with your current insurer arranged | Yes | No |
| We determine whether Hienfeld is the best choice | Yes | No |
| Advice fees for you as a customer | No | No |
This overview concerns our service, not the cover. What is actually covered is set out in the policy conditions and on the insurer's insurance card (verzekeringskaart); you receive both before you take out cover.
What does your premium depend on?
- Legal form and size. A foundation with volunteers, a cooperative and a BV with a supervisory board are each assessed differently.
- Balance sheet total and annual turnover. The financial size of the legal entity is the main basis of calculation for this cover.
- Number of directors and supervisory board members. The group of insured persons, including former directors and de facto policymakers.
- Sum insured per claim and per year. The annual limit applies to all directors together. With a large board that is a point to watch.
- Retroactive period chosen. Cover for decisions from before the start date, for example when joining an existing board.
- Financial position and history. Solvency, earlier claims and the continuity of the organisation are taken into account in acceptance.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
- You request a quoteWe take stock of your situation, your risk and your wishes.
- We compareseveral insurers, on premium as well as conditions.
- You receive a proposalWith an explanation of the differences and the exclusions.
- We arrange the switchIncluding cancellation, so there is no gap in cover.
Why arrange it through Finass Verzekert?
We look at the terms as well as the premium, and stay your point of contact when there is a claim.
Independent
We are not tied to one insurer and compare on the basis of an objective analysis of several companies.
One fixed adviser
You call or email someone who knows your file. No menu options, no changing call centres.
Switching without hassle
We cancel your old policy and align the start date, so you are never a day without cover.
Help with claims
We report the claim and monitor how it is handled. In urgent cases you can reach us on the emergency line.
9.5New policy
9.8Claims handling
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
Jointly and severally, including for a fellow director's mistake
In cases of improper management the whole board is in principle liable, not only the person who did it. Article 2:9 of the Dutch Civil Code only lets you off if you show that the complaint does not attach to you and that you were not negligent in taking measures. That means: putting matters on the agenda, speaking out and having it recorded in the minutes. A policy pays for the loss, but does not take away that burden of proof.
The insolvency administrator after a bankruptcy
If the legal entity goes bankrupt, the insolvency administrator investigates the board. In cases of manifestly improper management in the three years before the bankruptcy, he can hold directors liable for the deficit under Article 2:248 of the Dutch Civil Code. Accounts that have not been kept or annual accounts filed late create an evidential presumption that you have to rebut yourself. When it comes to it this is the most common claim.
Serving unpaid does not mean less liability
Volunteers on the board of an association or foundation carry the same responsibility as a paid director. There, claims often come from within: the association itself, the members' meeting or a successor board reviewing the management of reserves, subsidies or property. So check whether claims by your own legal entity are insured; not every policy covers those.
What a directors' and officers' liability policy does not do
Falling outside the cover are fines and additional tax assessments as such, intent, fraud and self-enrichment (Article 7:952 DCC) and circumstances you already knew about when taking out the policy. Ordinary losses of the legal entity itself do not belong here either: injury to a member of staff runs through employer's liability and Article 7:658 DCC, property damage through the public and employers' liability insurance.
Retroactive cover (prior risk)
Retroactive cover (prior risk) Included for your staff during work.
Defence & legal costs
Frequently asked questions
This is what people ask us most.
Who exactly is insured on this policy?
Generally the statutory directors, supervisory board members and supervisors, often supplemented by de facto policymakers and by former directors for decisions from their period on the board. Some policies also include heirs where a director dies. The legal entity itself is not an insured person for its own losses. Check the definition of the group of insured persons, because it differs from provider to provider.
Am I covered for decisions taken before I joined?
Only with retroactive cover. The policy responds to the claim, not to the moment of the decision. If you join an existing board, you take on the organisation's history: the accounts, current obligations and earlier decisions. So ask for a retroactive period and report circumstances already known to you when you took office; those are excluded in any event.
What happens if I resign?
Liability continues after your resignation. An insolvency administrator or successor board can still hold you liable years later. As long as the organisation's policy continues and former directors fall within the group of insured persons, you are covered. If the policy is terminated or the organisation is wound up, a run-off period is needed. Arrange that at the moment of resignation and record it in writing.
Is a discharge granted sufficient protection?
No. A discharge works between you and the legal entity and extends only to what was apparent from the documents. It does not bind an insolvency administrator, a creditor or the Belastingdienst. For third-party claims, Article 6:162 DCC continues to apply in full. A discharge therefore does not replace directors' and officers' liability insurance; at most it covers part of the internal risk.
Every situation is different. For these situations we have a separate page.
- Compare directors' and officers' liability insuranceThe main page
- Directors' and officers' liability insurance for your companyArticle 2:9 of the Dutch Civil Code, personal liability, defence costs
- Directors' and officers' liability in property and real estateArticle 2:9 of the Dutch Civil Code, private assets, claims-made
- Directors' and officers' liability insurance for property and real estatePersonal liability, Article 2:248 of the Dutch Civil Code, defence costs
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Ready to compare?
Request a quote without obligation. We will look at which insurer best matches your activities and your risk.
Prefer to call? 072 - 509 24 56, weekdays 09:00–17:00.
Claim on the road? Emergency line 06 - 55 20 40 72.
About our service
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
This page was compiled by Finass Verzekert (LinkedIn). Last updated on .
The information on this page is general in nature and is not personal advice.