More information on mitigating these and other Executive Risks can be found on the following pages:
As a manager of an enterprise you are exposed to considerable risks. This exposure does not only extend to the company’s capital, but also to your personal assets. You can be held personally liable for improper management, even if mistakes were not made by you personally, but by your co-managers. The D&O Insurance will assist you if this were to happen.
It could happen to you: a claim from your employee based on sexual harassment, age discrimination or the termination of an employment contract. Companies in the United States and Europe have noticed an enormous increase in these types of claims. The damage amounts can be so high that they can endanger the continuity of your organization. Employment Practices Liability-insurance (EPL) covers the claims and legal defense costs for these delicate matters.
In the financial world everything revolves around trust. This trust can be betrayed by a dishonest employee or customer. Even managers, accountants or advisors are capable of committing fraud. Fraud not only damages the trust relationship, in the worst case it jeopardizes the continuity of your enterprise. Fraud Insurance covers the financial damages resulting from fraud committed by employees or third parties to ensure the continuation of your enterprise. Fraud mostly consists of dishonesty, forgery, theft or embezzlement. Fraudsters increasingly tend to conspire with one or more employees whereby controls are circumvented, with all the entailing consequences for your financial institution as a result.
A number of liability risks arise with the IPO of a financial institution, but also with the additional issuance of shares. There can be a mistake in the prospectus, you may have given a warranty you are forced to honor, there was mismanagement, or incorrect information was dispersed during the road shows. In the worst case the resulting claims can jeopardize the continuity of your enterprise. You can insure yourself against these risks with the Initial Public Offering (IPO) insurance.
PTL insurance covers the liability of management as well as the professional liability of the pension fund.
The complexity of business and the bad economic situation cause ever-increasing risks in doing business. Companies and individuals are more often confronted with dangerous situations. Threats, extortion, and even kidnapping are sadly enough no longer a rarity. Your expats or traveling employees can attract special attention of terrorists, extremists and guerrilla’s en can be exposed to risks like kidnapping or hostage taking. Even individuals can be victims of a kidnapping, for instance those who travel to risk countries, are wealthy or get a lot of media exposure.
Giving advice concerning complex financial questions or offering financial products is not without risk. You as a financial institution can be held liable if clients incur damages as a result of your advice with respect to a financial product, as a result of miscalculations, but also if the institution has been negligent. Without proper insurance professional negligence can jeopardize the continuity of your enterprise. Professional Liability Insurance provides you with financial security so that you can offer your services without concerns.