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Directors and officers civil liability insurance

If you are a manager or executive, you may sometimes face legal disputes and financial losses arising from your duties and decisions taken in the activities of the organisation. This insurance is important for anyone who may be personally liable for the activities of their company, which may be conflict with their personal financial interests.

Directors and officers civil liability insurance

This insurance covers you if you become a manager or executive, a board member or a manager of an external company during the term of the insurance contract. Your spouse, heirs, guardians are also covered.

Insurance covers the following losses:

  • the insured person’s legal defence costs;
  • financial losses suffered by injured third parties as a result of the unlawful actions of the insured person;
  • the cost of investigating the accident.

Why to choose ERGO insurance?

Extensive list of insured

The cover applies not only to the company’s chief executive, but also to other employees in managerial positions.

Extensive insurance coverage

You can choose from a wide list of up to ten insured risks and thirteen insurance coverage extensions.

Defence and reliability

The insurance will provide a support to represent the executive in litigation and liability issues. This insurance is seen as a guarantee of the company's credibility, as the company is concerned with the personal financial security of its managers as well as the stability and continuity of the company’s operations.

Extensive list of insured

The cover applies not only to the company’s chief executive, but also to other employees in managerial positions.

Extensive insurance coverage

You can choose from a wide list of up to ten insured risks and thirteen insurance coverage extensions.

Defence and reliability

The insurance will provide a support to represent the executive in litigation and liability issues. This insurance is seen as a guarantee of the company's credibility, as the company is concerned with the personal financial security of its managers as well as the stability and continuity of the company’s operations.

What is covered by directors and officers civil liability insurance?

Main insured risks

In the event of an unforeseen event, the insurance will cover against the following risks:

  • directors’ and officers’ civil liability;
  • expenses incurred by the company for compensation of losses for the insured person;
  • liability for the company’s securities;
  • an insured person against an insured person;
  • liability for a violation of employment relations;
  • liability for organisation and conducting of public procurement's.

What is covered by directors and officers civil liability insurance?

In the event of an unforeseen event, the insurance will cover against the following risks:

  • directors’ and officers’ civil liability;
  • expenses incurred by the company for compensation of losses for the insured person;
  • liability for the company’s securities;
  • an insured person against an insured person;
  • liability for a violation of employment relations;
  • liability for organisation and conducting of public procurement's.

Insurance coverage applies to managers and leading persons against possible claims made by the company or injured third parties due to inappropriate decisions or actions taken in the performance of managerial duties.

The insurance compensates the losses incurred by the company, due to court costs, fines, compensations or other payments related to inappropriate actions or decisions of managers and executives.

This risk includes claims made by the company due to inappropriate behaviour or illegal actions of a manager or an executive, which may have a negative impact on the company’s securities.

This is the risk when one insured person, for example, a shareholder of a company, makes a claim against another insured person, for example, another manager, due to inappropriate decisions or actions taken by the latter in a managerial position or in the performance of managerial functions.

Insurance coverage under this risk includes claims made due to a violation of employment relations, such as wrongful dismissal, discrimination or coercion, which may be directed against any employee of the company. 

This risk includes claims made due to improper organisation or conducting of public procurement, including violations related to compliance with competition rules or other legal acts.

20+

countries across the ERGO Group

1200

team members in the Baltics

640 000+

customers in the Baltics

90+

products

Terms and Conditions of Directors and officers civil liability insurance

Vadovų ir vadovaujančių asmenų civilinės atsakomybės draudimo taisyklės Nr. 054.pdf

Effective as of 2023-09-01

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