Risk Partners Life Sciences Roundtable 2024, thank you very much! Already for the 26.06.2025 >

Contact us

๐—š๐—น๐—ผ๐—ฏ๐—ฎ๐—น ๐—œ๐—ป๐˜๐—ฒ๐—ด๐—ฟ๐—ถ๐˜๐˜† ๐—ฎ๐—ป๐—ฑ ๐—–๐—ผ๐—บ๐—ฝ๐—น๐—ถ๐—ฎ๐—ป๐—ฐ๐—ฒ ๐—™๐—ผ๐—ฟ๐˜‚๐—บ ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฐ

"D&O and Co. - Plan B to cover personal liability!"

Last Friday, Florian had the honor of attending the Global Integrity and Compliance Forum at the Ludwig-Maximilians-Universitรคt in Munich. Under the motto "The RULE of LAW in the Era of Integrity & Compliance", international legal experts, company managers, in-house councils and compliance officers from all over the world gathered to discuss the future of good corporate governance in 2024.

Key discussions and findings One of the main topics was the liability of company directors and members of the supervisory board, which underlined the increasing importance of a comprehensive risk management strategy. It became clear that an effective compliance management system is not only necessary today, but must also be documented and comprehensible. Florian led an important session on "D&O and Co. - Plan B to cover personal liability", in which he showed how board members can protect themselves from liability through personal risk management. Here are some of the key points:

1. contractual agreements:
  • Indemnification and procurement clauses in the secondment or mandate agreement
  • Overview and assurances from the company's D&O insurance

2. tool-based approaches:
  • Use of corporate governance tools, such as Fides
  • Compliance with the Business Judgement Rule and documentation of concerns of the Supervisory Board to mitigate personal liability

3. D&O protection:
  • Regular due diligence of the corporate D&O
  • Examination of supplementary private provision (personal D&O, top manager legal protection, etc.)

Thanks and outlook

Special thanks to Alexander Schemmel, the Boston Consulting Group (BCG) and the GCE Counsellors at Law team for the invitation and the opportunity to participate in this inspiring event. The exchange with the experts and the discussions in the LMU premises were extremely enriching.

Are you a member of the executive board, managing director or supervisory board yourself? Let's discuss, without obligation, how our special concepts of software solutions and D&O insurance can protect you and offer best practices for personal protection in a modern management environment. Together we can further improve corporate governance and ensure greater integrity and compliance in the business world. We look forward to hearing from you!

Also read our other blog posts

Being Public

New SEC Ruling: Transatlantic convergence in dealing with cyber security incidents

Foreign Filers / Private Issuers watch out! 2023 brought further harmonization of European and US standards for cyber incident reporting. According to the SEC Ruling, all companies listed on the US stock exchange are now required to publicly report significant data security incidents to the SEC within four working days. In addition, they must outline in their annual report (10-K) their procedures for identifying and addressing material cybersecurity risks, including the role of the board of directors. Note: This rule also applies to foreign private issuers (e.g., German companies that issue a

Read more "
January 17, 2024
Management

How managers protect themselves from personal liability in the event of cyber incidents - #29Minutes by Control Risk & Risk Partners

How directors and officers protect themselves from personal liability in the event of cyber incidents - #29Minutes by Control Risk & Risk Partners Looking at our claims experience in the area of directors' and officers' liability in recent years, internal claims alleging inadequate cyber risk management and emergency management in the event of a cyber attack are unfortunately on the rise. In addition to special risk transfer solutions (cyber and CDI insurance), there are also very practical tips on how to react correctly if the worst comes to the worst. Following an exchange at a risk management conference in Q1 of this year

Read more "
November 8, 2023
Management

Research breakdown at Stockholm's Karolinska Institute: A cooling failure destroys cell cultures from decades of research

Research mishap at Stockholm's Karolinska Institute: A cooling failure destroys cell cultures from decades of research - can you insure against it? An incident that threatens your very existence, but which we would like to shed some light on from the perspective of an insurance broker specializing in life sciences. What happened? A cooling system at the Karolinska Institute in Stockholm, Sweden's most important medical research center, failed for five days. Biological material that had been collected over 30 years and, according to the institute, was unique in the world, was destroyed as a result. The material was stored in deep-freeze tanks in which the temperature

Read more "
June 7, 2024
Life Sciences

Finance Day 2023

Growth capital for biotechnology: Yesterday, today, tomorrow! A few days ago, Jutta Zaglauer and Florian Eckstein from our team attended the Finance Day 2023 on the occasion of the 25th anniversary of biotechnology at the IZB - Innovation and Startup Center for Biotechnology. The event offered an exciting exchange and insights into current financing and capital market issues of biotechnology companies. As an experienced specialist insurance broker for the areas of life sciences, venture capital and IPOs, all three cornerstones of our "magic expertise triangle" were part of the exciting agenda. It was also interesting to discuss the importance of customized

Read more "
November 6, 2023
Being Public

Public prosecutor's office investigates: Suspicion of deception in short-time work (Sono Motors)

No startup bonus for criminal and administrative offenses. The incident and possible insurance cover. As exclusively researched by Hannah Schwรคr and her team at Capital Magazin, the founders of Sono Motors are now also facing problems with the public prosecutor's office. According to Capital Magazin, subsidy fraud in the context of short-time work and the programs surrounding the corona crisis is in the offing. The company, which is listed on the NASDAQ via De-SPAC, has already filed a report with the SEC. While the loss amount of EUR 40,000 is still being

Read more "
March 19, 2024
Life Sciences

Atrialis GmbH - experts in clinical trial insurance

Atrialis GmbH - experts in clinical trial insurance & Risk Partners will play in the same team in the future. LifeSciences - Leading risk concepts for leading science! Under this guiding principle, we have been able to advise innovative companies from the biotechnology, pharmaceutical and medical device sectors comprehensively on risk issues for many years and support them with suitable insurance solutions in all growth and study phases, from foundation to IPO and beyond (e.g. insuring a clinical trial). Together with my team at Risk Partners GmbH, we would like to continue our focus, our passion

Read more "
October 31, 2023