Protection for you as an executive Insurance for executives

Commercial third-party liability insurance

Executives are responsible for their company – and consequently for potential losses that arise while running the business. Whether a client falls in an office or financial losses arise due to erroneous services, commercial third-party liability insurance protects you against extensive expenses by asserting substantiated claims and defending against unsubstantiated ones.

Commercial third-party liability insurance is not required by law for SMEs with employees, but it is highly recommended in order to protect the company against liability risks. Self-employed entrepreneurs should also insure themselves because their personal assets are often at risk in liability claims. 

Professional liability insurance

Executives shoulder the responsibility for strategic decisions and business operations. If they make a mistake that results in financial losses, they can be held personally liable. Professional liability insurance protects executives from the financial consequences of erroneous decisions, such as breaches of duty or management failures. 

While commercial third-party liability covers losses incurred by third parties, professional liability insurance provides coverage against financial claims that arise directly from managing a company. It is particularly valuable for executives with comprehensive decision-making powers as it enables them to protect their personal assets from claims for compensation. 

Accident insurance and supplemental accident insurance

Accidents are unexpected and can happen in any industry – whether you’re at work or not. While statutory accident insurance provides basic coverage against accidents, it is often not enough to fully compensate for higher salaries or additional costs. In these cases, supplemental accident insurance steps in with enhanced benefits such as higher daily sickness benefits and better rehabilitation coverage. 

The executives of an SME are required to take out statutory accident insurance for employees, but they can choose whether to insure themselves or not. As self-employed entrepreneurs are not automatically insured, they should insure themselves in order to avoid loss of income and help cover medical expenses. 

Daily sickness benefits insurance

A longer absence due to illness can have significant financial consequences for the executives and the company. Without the right insurance, their income can be significantly reduced when they can’t work, which is particularly difficult for executives who have a large share of responsibility. Daily sickness benefits ensure that they have a regular income while on sick leave in order to avoid financial difficulties. 

This coverage is particularly important for executives at an SME because they are often responsible for the continued salary payment of their employees. As self-employed entrepreneurs are not automatically insured, they should insure themselves in order to avoid financial difficulties. 

Cyber insurance and services

Cyber attacks and data losses are a growing risk for companies of all sizes. Executives shoulder the responsibility for IT security and the protection of sensitive data. A successful attack can result in financial loss, business interruptions and legal consequences. Cyber insurance covers the costs of loss mitigation, data restoration and IT forensics and helps minimize financial loss. 

Particularly for executives that make the management decisions in the company, targeted protection against cyber crimes is essential because digital threats are increasingly impacting the survival of companies. 

Commercial legal protection insurance

For many companies, legal disputes are a regular part of business – whether it’s a disagreement with contractual partners, employees or government agencies. Comprehensive commercial legal protection  assists executives with legal questions and disputes and offers financial security and professional support in legal cases.

Property insurance

Whether you have machinery, technical equipment, goods stored in a warehouse or top quality office equipment, losses can quickly add up, depending on your industry. If your company has valuable equipment or expensive goods or if an accident could result in longer interruptions to your business, property insurance is a particularly good investment for you. In sectors with lower asset values, however, the need for insurance can be considerably lower. This is why we offer flexible solutions based on your actual risks and needs.

Occupational benefits

As manager of a company, you are required to enroll your team in a Pillar 2 pension fund as soon as you hire your first employee. This basic insurance can be expanded as needed – such as through solutions for employees with above-average incomes: 

• Management pensions: Enhance basic pensions in a targeted manner and offer more tailored investment strategies. With our 1e pension solution or Top Invest plans, AXA makes flexible and long-term wealth planning possible. 

Private pensions

In addition to professional security, Pillar 3 private pensions are another way for executives to save for retirement. There are two options: 

• Pillar 3a: Tax-advantaged savings solutions with fixed terms until retirement. This is a particularly smart way for the self-employed to supplement occupational benefits. 
• Pillar 3b: Flexible savings and investment options without any legal restrictions that are the ideal way to enhance individual retirement planning.