Anyone carrying out an activity that is based on trust must be able to justify their deeds before the law. If you as a managing director or member of the board of directors make a wrong decision, you are personally liable and your own assets are at risk. With directors' and officers' liability insurance from AXA, you and your assets are covered against such outcomes.
As a member of the executive board or board of directors/trustees, you can be held personally liable – directors' and officers' liability insurance protects you and your assets. If worst comes to worst, you are not entirely alone in your role as a decision-maker. As a group policy, D&O insurance covers all the governing bodies in your company and its first- and second-tier subsidiaries.
D&O insurance protects you against unfounded or excessive claims and pays out justified claims. It covers the following functions and features:
Directors and officers are exposed to a liability risk which may possibly result in substantial claims for damages. Preventive measures enable you to assess and reduce these risks more effectively.
Suitable preventive measures help to assess claims for damages more effectively. Together with Structuul AG, AXA offers you the opportunity to take preventive measures at your company and introduce safeguards in good time.
After an individual "Fraud.Prevention.Awareness" program has been completed at Structuul AG, AXA will give a one-time discount of CHF 250 on the next annual premium for your D&O or fidelity insurance.
Members of the governing bodies of municipalities have high demands when it comes to insurance coverage. This is why our "D&O for municipalities" is tailored to the needs of municipalities and offers security and professional support in the event of a claim.
Many municipalities have outsourced tasks for which they have founded companies/special-purpose associations. If they breach their obligations, their governing bodies are subject to unlimited liability with their entire personal assets (directors' and officers' liability) – even in the case of minor negligence.
At the same time, members of the governing bodies of municipalities (e.g. members of the municipal/town/city council, school principals or municipality executives) run the risk of becoming personally liable. Recourse to members of the governing body of the municipality is always possible under cantonal legislation on responsibilities/liability.
"D&O for municipalities" provides protection against such financial consequences. All former, current and future members of the following are insured:
in their capacity or function as officers of the municipality/city. Recourse to a public-law entity is insured under cantonal legislation on responsibilities/liability. The liability of the municipality itself (state guarantee) is not covered.
You are a director or officer of a company and would like to insure yourself against D&O liability claims independently of the company? Our single-premium product gives you as an individual person the security of comprehensive risk coverage with numerous premium-free supplementary insurance options. Your big advantage: The total sum insured is reserved exclusively for you.
In the challenging environment of occupational benefits insurance, the tasks of decision-makers of occupational benefits institutions are becoming more and more demanding. Combined D&O and professional liability insurance for occupational benefits institutions and their governing bodies offers comprehensive insurance protection in the event of liability claims with a coverage option geared toward occupational benefits institutions. A combined D&O and professional liability policy offers protection against unfounded liability claims and pays out justified claims.
Absolutely. The legal basis of liability is exactly the same for directors and officers of all enterprises, whether small, medium-sized or large. Our experience shows that directors and officers of SMEs are increasingly facing D&O liability actions.
We are seeing a steady increase in claims against directors and officers. Unfortunately, there are no official data available in Switzerland on the frequency of D&O liability claims. Published sources cite figures ranging from around 1,000 to 2,000 court cases a year. But court cases are just the proverbial "tip of the iceberg", since in our experience some 80 to 90% of D&O liability claims are settled or rejected out of court.
D&O offers protection against unfounded or excessive claims and pays out justified claims. D&O insurance also covers interest, loss minimization costs, fees for expert opinions, lawyer fees, court and mediation costs as well as indemnification of the counterparty's legal expenses in connection with an insured claim.
Under the D&O policy, assistance is also provided to the insured director or officer in the form of a wide range of supplementary coverage, including loss-of-reputation costs, psychological counseling fees, living expenses and costs for legal protection in criminal or administrative proceedings.
AXA has a claims department with over 15 lawyers and auditors specializing in financial loss liability insurance. Drawing on this pool of know-how, AXA can guarantee insured persons the best possible support in the event of a claim. It goes without saying that claims are handled in close collaboration with the insured person.
An additional advantage that AXA offers: Claims department costs are neither offset against the deductible nor are they deducted from the amount of insurance.
The policyholder and premium payer is the employer (legal entity), although the latter itself is not insured. The directors and officers of the insured legal entities enjoy insurance cover.
No, in all its D&O insurance policies, AXA waives its right to a defense against gross negligence.
No, as a group insurance, D&O insurance automatically covers "all" former, current and future directors and officers of the policyholder. For this reason, it is not necessary to register and deregister insured persons.