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"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!

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