Third-party Liability Insurance for Managers

So that your assets and that of your management team are protected against any error or decision due to the actions carried out as administrators and managers.

CALCULATE YOUR INSURANCE

Insurance for managers

It protects the personal wealth of administrators, managers, directors and senior officials against claims arising from errors while undertaking their duties as company managers that have caused economic losses to third parties.

Characteristics of the insurance

While nobody can prevent third parties from filing claims against you, we can help protect you. Our product offers extensive cover so that you can make decisions with peace of mind:

Flexibility in terms of payment method.
Different insured amounts.
No excess.
Worldwide coverage, excluding the United States, Puerto Rico and Canada.
No need to name insured parties: forget about the lists of names and positions, our policy gives collective coverage to all present, past and future managers.
Extension of coverage for Business Groups: whenever the Parent Company declares that it wants to insure the entire Business Group, we cover all the directors of the subsidiaries within the same policy, even if they do not coincide with those of the Parent Company. In investee companies, coverage will be given to the directors designated by the parent company that has contracted the policy.

Shall we discuss it?

If you would like more information, visit any of our branch offices.

FIND A BRANCH OFFICE

Coverage

Third-party Liability Insurance for Managers covers you against different types of claim:

Third-party liability coverage:

Third-party liability of administrators and senior officials.
Liability for improper labour practices.
Insured against insured.
Reimbursement of the entity.

Expenses and ancillary cover:

Expenses for insolvency guarantees from credit institutions.
Fines and administrative sanctions related to failure to submit accounts.
Investigation expenses.
Emergency and crisis management expenses.
Publicity and reputation recovery expenses.
Extradition crisis expenses.
Coverage of expenses in pollution-related events.
Expenses for the criminal defence of the entity.

Expenses and ancillary cover for business groups:

Activities of insured parties at subsidiary entities.
Activities of insured parties at investee entities.
Activities of policyholders in acquired or newly created entities.

Shall we discuss it?

If you would like more information, visit any of our branch offices.

FIND A BRANCH OFFICE

FAQs

What is the Third-party Liability Insurance for Managers for?

To protect the personal wealth of administrators, managers, directors and senior officials against claims arising from errors while undertaking their duties as company managers that have caused economic losses to third parties.

What differences are there between General or Professional Third-party Liability Insurance and Third-party Liability Insurance for Managers?

General Third-party Liability insurance protects the company against claims arising from errors during their commercial or industrial activity etc., and that have caused bodily injury or material or economic damage to a third party.

Professional Third-party Liability insurance protects employees when errors are made in the performance of their occupational duties, but never in the performance of duties as company managers or administrators.

Third-party Liability Insurance for Managers protects the personal wealth of administrators, managers, directors and senior officials of the company against claims arising from errors while undertaking their duties as company managers that have caused economic losses to third parties.

Who takes out the policy and who is insured?

The policy must always be taken out by the company.

In the case of Business Groups, it must be the Group's Parent Company that takes out the policy.

The insured parties are the natural persons who undertake administrative and management duties within the company.

Do insured individuals have to be expressly identified?

There is no need for names or positions to be specified as, under the policy, all natural persons who have been, who are or who become administrators, managers, directors or senior officials of the company that takes out the insurance are considered to be insured parties, and there is no limit to the number of insured parties.

Does the policy cover Subsidiaries and Investee Companies?

As long as the Parent Company states that it wishes to insure the entire Business Group, the single policy will cover all managers of subsidiaries, including those who are not managers of the Parent Company itself.

With respect to investee companies, only those managers specified by the Parent Company that takes out the policy will be covered.

How is the policy renewed?

The Third-Party Liability Insurance for Managers is an annual renewable policy, so it is renewed automatically each year.

Shall we discuss it?

If you would like more information, visit any of our branch offices.

FIND A BRANCH OFFICE

FAQs