Directors/Liability insurance
As a director you make many decisions. You may make a mistake or mistake. With director's liability insurance you are insured against the risk of personal liability following an error. From you or your fellow directors. This is how director liability insurance protects your private assets.
Directors' Liability Insurance for Companies: Protect Your Directors against Liability
Directors' liability insurance for companies provides essential protection against claims and damages arising from the negligence or errors of directors. With the right coverage, you can run your business worry-free, knowing that your directors are properly insured against personal liability risks.
We ( Finass Verzekert) Directors' Liability Insurance with the best insurers, so that you receive the best and most affordable premium from us Directors' Liability Insurance
Benefits of Directors' Liability Insurance for Companies
- Comprehensive Coverage : Protection against claims for damages due to negligence, errors or wrong decisions by drivers.
- Financial Security : Avoid high costs due to legal proceedings and compensation.
- Peace of mind for Directors and Shareholders : Know that the directors of your company are well insured against personal liability risks.
Frequently asked questions about Directors' Liability Insurance :
What is Directors' Liability Insurance?
Directors' liability insurance is intended for board members, directors, supervisors and commissioners of organizations, foundations and associations. This protects all directors against claims for damages following an administrative error. And they are not personally liable.
Is it mandatory?
Taking out director's liability insurance is not mandatory.
Who is it useful for?
Directors' liability insurance is intended for board members, directors, supervisors and commissioners of organizations, foundations and associations. This protects all directors against claims for damages following an administrative error. And they are not personally liable .
What is usually insured?
Liability because you did not perform your duties properly. And this caused damage. This is also called improper performance of duties.
• Liability for damage because you did something that is not permitted by law. This is called an unlawful act.
• Internal liability: there is damage within your organization, association or foundation.
• External liability: people or organizations outside your organization, association or foundation have suffered damage as a result of your mistake.
• Legal assistance, such as legal assistance from a lawyer.
• A claim you receive after you take out the insurance. But you made the mistake before you took out the insurance (walk-in risk).
• Have you canceled the director's liability insurance? And will someone hold you liable for a mistake you made before you canceled the insurance? Then you can sometimes purchase extra cover for this (exit risk).
What is usually not insured?
A penalty or fine.
• Damage that you caused on purpose.
• Damage due to theft, fraud or forgery. For example, forging a signature. Or adjusting an invoice.
• Damage to persons or someone's property. For this you business liability insurance .
• Damage to the environment.
• Damage because you abused your position.
What does directors' liability cover?
DIRECTORS LIABILITY INSURANCE PROTECTS THE PRIVATE ASSETS OF DIRECTORS, SUPERVISORS AND SUPERVISORS AGAINST THE RISK OF THEY BEING PERSONALLY LIABLE FOR FINANCIAL DAMAGE DUE TO ERRORS, OMISSIONS OR NEGLIGENCE IN THE PERFORMANCE OF THEIR FUNCTIONS.
How much does directors' liability insurance cost?
The costs for director's liability insurance differ per type of director. Premiums range on average from approximately €15 to €80 per month. The following applies: the higher the insured amount, the higher the premium.
Tips for Choosing Directors Liability Insurance for Businesses
Compare different providers on coverage, premium and conditions. Pay attention to customer reviews and choose the insurance that best suits your specific business structure. Good directors' and officers' liability insurance not only provides financial protection, but also peace of mind, so your directors can focus on running your business successfully.
You forgot to pay premiums. Or you did not provide a supervisor with enough information. Or a company suffers financial damage through your fault. After an error, you may receive a claim for damages from, for example, the government, employees or customers.
