Key points at a glance
- Coverage for managers: The management and administration of a company entails risks. A single act of negligence can have far-reaching consequences.
- Comprehensive protection: Whether it’s a major corporation or an SME, a justified claim or not – this insurance offers protection in the event of liability claims against all company entities.
- Financial protection: Without this insurance, you or your managers can be held liable with your personal assets in a worst-case scenario.
Purchase advice: 052 269 21 70
Support and frequently asked questions
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How many claims are there in Switzerland?
No official figures on frequency in Switzerland are available. As insurers, however, we are seeing a steady increase in D&O liability claims. Investors and shareholders are seeking to minimize their risk and protect their own capital; accordingly, they are increasingly holding officers and directors responsible in the event of bankruptcy or insolvency.
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Does the insurance also cover reputation costs?
Yes. If it is established that the public image and good reputation of an insured is damaged in the course of a claim, AXA will pay the costs of restoring the image and good reputation of the insured and will also cover psychologist consultation fees.
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Does D&O insurance make sense for my company?
The answer in the case of most SMEs is an emphatic “yes”. Fact is, the statutory basis of D&O liability is identical whether your company is small, medium, or large. Directors and officers of SMEs in particular have faced liability suits on an increasing basis in recent years.
Cover is particularly advantageous for companies that have a large number of shareholders with varied interests or financial investors, if there are major plans for restructuring, investments, or acquisitions or disposals within the market place, or if your company operates in a sector with major potential risks in terms of bodily injury, property or environmental damage. But not only that: it also makes sense if you find yourself in a difficult financial situation and are perhaps at risk of bankruptcy – even where this is due solely to a potential bankruptcy on the part of key suppliers or customers. And it is worthwhile in any case if the director, officer, or other senior employee who looks after your liability issues would simply like to have this type of insurance in place.