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Directors’ and Officers’ Liability Insurance

Liability insurance for company management

Insurance for company management

A company’s managing director and board members or the annual general meeting chair may be held liable for damages caused by negligence – even from their personal assets.

Professionals at your assistance in case of loss

We will investigate whether you are liable for indemnification and negotiate with the injured party if necessary.

Includes cover for legal expenses

Directors’ and Officers’ Liability Insurance covers investigation and legal expenses resulting from a claim for damages.

Directors’ and Officers’ Liability Insurance protects your company and its decision-makers

A company’s top management makes critical business decisions every day. These decisions may have far-reaching consequences for the company’s operations. Even carefully prepared decisions may turn out to be unsound and unprofitable.

The purpose of Directors’ and Officers’ Liability Insurance is to protect the company’s top management from personal liability. The insured persons are the company’s top management, such as the managing director, members of the board of directors and the chairman of the annual general meeting. A covered damage may relate to, for example, mistakes in the management of the company’s affairs or negligent use of company funds.

A company’s directors and officers are not usually held liable except on very weighty grounds, but even an unfounded claim for damages may result in significant expenses for your company. Liability insurance also protects top management from legal expenses arising from a dispute over damages, even in the event that none of your directors or officers are ultimately found liable.

What does Directors’ and Officers’ Liability Insurance cover?

The insurance covers damages which members of the company’s top management have caused while serving as a member of the company’s governing bodies and for which they are held personally liable under law. The liability insurance covers financial losses incurred by the policyholder, i.e. the company, or by a third party.

Directors’ and Officers’ Liability Insurance is also a means to protect the board and managing director against claims for damages. It provides significant cover when investigating whether a liability exists.

In the event of loss, you will be assisted by Pohjola Insurance experts who will investigate whether the person is liable for the loss. If the claim is disputed and taken to court, your liability insurance will also cover legal expenses.

Liabilities of Board members and the Managing Director

Any actions or omissions of the managing director or member of the board of directors may cause a loss to the company, a shareholder or a third party, such as the company’s creditor.

According to the Limited Liability Companies Act, a member of the company’s administrative body may become personally liable for any loss which

  • they have deliberately or negligently caused to the company, or
  • they have deliberately or negligently caused to the company, a shareholder or a third party in violation of the Limited Liability Companies Act or the Articles of Association.
Nainen selaa kannettavalla tietokoneellaan tietoja tilanteista, joissa vastuuvakuutus on hyödyksi.
Liability insurance
Business liability insurance covers your company in case of indemnification liabilities.
Iloiset työntekijät keskustelevat mitkä ovat yrityksen 3 tärkeintä toiminnan vakuutusta.
3 key forms of business insurance
Accidents can happen to anyone. This may be particularly worrisome when a company is just starting out or planning to expand.

In the op.fi service, you can easily and safely manage all of your company's insurance transactions. The service allows you to, for example

  • report a loss and see how your loss report is processed
  • print out certificates of insurance
  • order a Green Card for company vehicles

How to activate the Internet Service:

  • Sign the Agreement for Digital Transactions and name the administrators.
  • Administrators can add other users and their access rights to the service.