Competence Center Financial Lines
Competence Center Financial Lines
Insurance for managers

The SCHUNCK GROUP is one of the leading providers of management insurance. This includes, in particular, Directors and Officers Liability Insurance (D&O).

At the SCHUNCK GROUP Financial Lines Competence Centre, specialist and insurance experts continuously analyse the current jurisdiction and develop specialised insurance solutions for managers (business leaders according to the managing body) in cooperation with experts, customers and insurance companies, such as business managers and boards of directors. The cover concept includes both asset protection of the business and protection of the private domain of the manager, including relevant legal issues.
However, it also includes insurance solutions for initial public offerings and mergers as well as kidnap and blackmail insurance.

What is a typical risk situation for a manager?

Decision makers such as boards of directors, managing directors, and associations are being made increasingly responsible for mistakes and wrong doings, and in many cases for employee mistakes. As a result, company losses arise and a managing director, for example, can be the subject of a claim. There is a risk that damages must be paid entirely from private assets. It is enough to accuse the managing director of an organisational fault or violation of compliance guidelines. The criminal consequences outweigh the civil law consequences. For example, an employee can make a statement claiming that a manager knew something or must have suspected. Whether the facts correspond is not important. In each case the investigating authorities would be obliged to follow up the accusations. Therefore, each board or managing director can be quickly affected by an investigation process that originates from employee level.
Risk protection for boards, managing directors and other decision makers is therefore becoming an ever increasing standard for businesses.

What is a typical management liability claim?

A worker transfers 100,000 euros to a foreign account due to a mix up of the account number. The transfer cannot be reversed and the money is lost. The resulting asset loss for the business leads to the managing direction being accused of organisational fault. The reasoning is that with the "proper" implementation of existing organisational and control guidelines, incorrect transfers would be cancelled in time or not possible at all and the asset loss would have been avoidable. The managing director is held liable with complete personal assets. The resulting consequences have a negative effect on both the business and private life.

What protection does manager insurance provide?

The SCHUNCK GROUP provides businesses and managers insurance protection determined by their individual risk situation. From full manager liability and criminal legal protection to fidelity insurance, free combinations of insurance modules can be chosen according to the current risk situation. An excellent relationship between price and performance, reasonable and individual
conditions are key features of management insurance.

The following insurance solutions are included in the service portfolio:
  • Directors and Officers - Management liability insurance
  • Penal Legal Protection - Penal protection insurance
  • Fidelity/Crime - Fidelity insurance
  • Initial public offering - Prospect liability insurance
  • Mergers and Acquisitions
  • Kidnap and ransom insurance 
Your contact person in the Competence Center Financial Lines:
Niels Jöhnk
Phone + 49 (0) 89 38177-128