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What does the abbreviation ODL stand for? What is the continuity guarantee? And how can I get protection after the D&O policy expires? The following articles in our D&O insurance glossary will give you the answers. If you have any suggestions for expanding our knowledge area, please let us know by e-mail!
In certain industries, there are special function holders whose co-insurance in the D&O should be taken into particular consideration. For our clients in the pharmaceutical or medical technology sector, for example, the so-called Qualified Person in accordance with Section 14 of the German Medicines Act or the PRRC, i.e. the "Person Responsible for Regulatory Compliance" in accordance with Article 15 of the Medical Device Regulation, are exposed to increased personal liability. In the absence of an extensive employee protection privilege, co-insurance of these function holders is also part of the employer's duty of care. We see another example with venture capital funds whose AML officers, whistleblower protection officers or special legal entities are not automatically part of the D&O in accordance with Luxembourg supervisory law. Please contact us. We have developed special concepts for these sectors
D&O insurance policies are generally "claims-made" policies. It is therefore essential when a "written" claim is made for the first time and not when the breach of duty that caused the claim occurred. The occurrence of loss is therefore not the date of the wrongful act, but the time when a claim is first made in writing. Accordingly, a breach of duty committed in 2019 can also become the triggering loss event in 2024 through a claim.
D&O insurance policies are generally "claims-made" policies. It is therefore essential when a "written" claim is made for the first time and not when the breach of duty that caused the claim occurred. The occurrence of loss is therefore not the date of the wrongful act, but the time when a claim is first made in writing. Accordingly, a breach of duty committed in 2019 can also become the triggering loss event in 2024 through a claim.
D&O insurance policies are generally "claims-made" policies. It is therefore essential when a "written" claim is made for the first time and not when the breach of duty that caused the claim occurred. The occurrence of loss is therefore not the date of the wrongful act, but the time when a claim is first made in writing. Accordingly, a breach of duty committed in 2019 can also become the triggering loss event in 2024 through a claim.
