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Director’s liability and
A-Side DIC
Insurance and employee benefits for expats
International risks for board meeting agenda
Director’s and Officers liability is a matter that requires close attention. What happens when a third party, such as a shareholder, bank, curator, the tax authorities or a customer, suffers damage as a result of a company’s decision? That party might hold the director personally liable for their damages. In some cases, commissioners can also be held personally liable, for example if they were negligent in their supervisory role.
Protection for directors and commissioners
This is why director’s and officers liability insurance is a must, irrespective of the size of the business. In addition to dealing with any eventual claim, it also helps to cover the costs of legal representation, including when a claim is proven to be unfounded. This ensures that the private assets of the director and/or commissioner remain unaffected. Director’s and Officers liability insurance covers a fully insured sum per claim per year, including defence costs.
A side D&O liability insurance policy offers the following:
• A-Side coverage protecting the private assets of directors/commissioners
• B- and C-Side coverage protecting the assets of the business
Extra coverage via A-Side DIC
What happens when a claim (including costs) exceeds the insured sum of the D&O liability insurance? In that case, the insurance no longer applies, and this is why many (former) directors/commissioners often find themselves in a difficult position. Additional A-side DIC coverage can provide the answer, as it offers the director/commissioner more protection in addition to the primary A-side coverage.
A-Side DIC polis in a nutshell:
A secondary, stand-alone policy
Provides coverage when the (insurer of the) primary D&O liability insurance policy:
• Does not provide coverage, or
• Withholds coverage under suspicion of exclusion
Offers a solution in the case of limits, clauses or deductible in the primary policy
Assumption of cover: coverage is provided for as long as exclusion has not been proven
No coverage in cases or malintent
Relatively low premium due to the secondary nature
of the policy
Global Benefits? Choose for central coordination
Entrepreneurs who operate internationally aim to manage the financial affairs and well-being of their employees in foreign countries in an efficient manner. When managing these Global Benefits it is important to take differences in legislation and cultures into consideration. Meijers Global & Specialty looks after all of the central coordination and ensures that insurance policies and Employee Benefits meet the requirements of local regulations and the needs of employees in many different countries.
Each international package of insurance policies and regulations for employees is tailor-made. Meijers Global & Specialty possesses the extensive knowledge and experience required to offer strategic advice per individual region and country and to organize it all carefully. Our team of experts works together with a worldwide network of insurance brokers and manage everything from our head office in Amstelveen.
Pension, care, sustainable availability
As a result, Dutch companies with international branches can always count on the services of the best local insurance brokers and the best solutions for their employees. Everything from pension funds, health insurance and disability insurance to Employee Benefits and HR solutions for matters relating to vitality and sustainable availability. Not to mention employee assistance programmes for expats working abroad who find themselves in difficult situations or even suffer injury.
Health insurance for expats
Medical care for expats, in particular, is extremely important. That is why Meijers Global & Specialty selects the best health insurance programmes for your expats or employees who are posted abroad. These programmes meet the requirements of each individual country and the specific needs of your workers, such as medical evacuation, specialised treatment and access to international medical networks. Meijers also looks after all administrative matters and any other concerns
expats may have about their health insurance. This allows them to focus fully on their work.
When putting each complete package of insurance policies and Employee Benefits together, Meijers Global & Specialty negotiates the most favourable tariffs and conditions. And we monitor all insurance programmes and employee benefits to ensure that they are always up to date.
Rutger den Bruigom
(Account Manager Global Benefits)
International risks for board meeting agenda:
Sabotage, terrorism, riots and war
The turmoil in the world and the threat of trade wars are not only a problem with regard to the economy. Equally problematic is the rising geopolitical tension that is putting internationally operating businesses at an ever-greater risk of harm resulting from sabotage, terrorism and riots. It is front-page news every day but strangely enough these risks rarely feature prominently on the agenda at board meetings. A good moment to take a look at what the options are in terms of insurance.
Property, goods and employees
can be insured according to the following gradations:
1. Insurance against sabotage and terrorism
2. Extension of insurance against sabotage and terrorism with
a SRCC insurance policy (Strikes, Riots and Civil Commotion).
Covers the risk of:
Strikes
Riots
Civil commotion
3. Insurance against political risks
In addition to the aforementioned risks (1 + 2), the following are also covered:
Insurrection
Rebellion
Revolution
Mutiny
Coup d’état
Civil war
War
Table of contents
Update
Director’s liability and
A-Side DIC
International risks for board meeting agenda
Insurance and employee benefits for expats
Relatively low premium due to the secondary nature
of the policy
No coverage in cases or malintent
Assumption of cover: coverage is provided for as long as exclusion has not been proven
Offers a solution in the case of limits, clauses or deductible in the primary policy
Provides coverage when the (insurer of the) primary D&O liability insurance policy:
• Does not provide coverage, or
• Withholds coverage under suspicion of exclusion
A secondary, stand-alone policy
A-Side DIC polis in a nutshell:
Extra coverage via A-Side DIC
What happens when a claim (including costs) exceeds the insured sum of the D&O liability insurance? In that case, the insurance no longer applies, and this is why many (former) directors/commissioners often find themselves in a difficult position. Additional A-side DIC coverage can provide the answer, as it offers the director/commissioner more protection in addition to the primary A-side coverage.
A side D&O liability insurance policy offers the following:
• A-Side coverage protecting the private assets of directors/commissioners
• B- and C-Side coverage protecting the assets of the business
Director’s and Officers liability is a matter that requires close attention. What happens when a third party, such as a shareholder, bank, curator, the tax authorities or a customer, suffers damage as a result of a company’s decision? That party might hold the director personally liable for their damages. In some cases, commissioners can also be held personally liable, for example if they were negligent in their supervisory role.
Protection for directors and commissioners
This is why director’s and officers liability insurance is a must, irrespective of the size of the business. In addition to dealing with any eventual claim, it also helps to cover the costs of legal representation, including when a claim is proven to be unfounded. This ensures that the private assets of the director and/or commissioner remain unaffected. Director’s and Officers liability insurance covers a fully insured sum per claim per year, including defence costs.
Rutger den Bruigom
(Account Manager Global Benefits)
Pension, care, sustainable availability
As a result, Dutch companies with international branches can always count on the services of the best local insurance brokers and the best solutions for their employees. Everything from pension funds, health insurance and disability insurance to Employee Benefits and HR solutions for matters relating to vitality and sustainable availability. Not to mention employee assistance programmes for expats working abroad who find themselves in difficult situations or even suffer injury.
Health insurance for expats
Medical care for expats, in particular, is extremely important. That is why Meijers Global & Specialty selects the best health insurance programmes for your expats or employees who are posted abroad. These programmes meet the requirements of each individual country and the specific needs of your workers, such as medical evacuation, specialised treatment and access to international medical networks. Meijers also looks after all administrative matters and any other concerns expats may have about their health insurance. This allows them to focus fully on their work.
When putting each complete package of insurance policies and Employee Benefits together, Meijers Global & Specialty negotiates the most favourable tariffs and conditions. And we monitor all insurance programmes and employee benefits to ensure that they are always up to date.
Each international package of insurance policies and regulations for employees is tailor-made. Meijers Global & Specialty possesses the extensive knowledge and experience required to offer strategic advice per individual region and country and to organize it all carefully. Our team of experts works together with a worldwide network of insurance brokers and manage everything from our head office in Amstelveen.
Entrepreneurs who operate internationally aim to manage the financial affairs and well-being of their employees in foreign countries in an efficient manner. When managing these Global Benefits it is important to take differences in legislation and cultures into consideration. Meijers Global & Specialty looks after all of the central coordination and ensures that insurance policies and Employee Benefits meet the requirements of local regulations and the needs of employees in many different countries.
Global Benefits? Choose for central coordination
Table of contents
3. Insurance against political risks
In addition to the aforementioned risks (1 + 2), the following are also covered:
Insurrection
Rebellion
Revolution
Mutiny
Coup d’état
Civil war
War
2. Extension of insurance against sabotage and terrorism with
a SRCC insurance policy (Strikes, Riots and Civil Commotion).
Covers the risk of:
Strikes
Riots
Civil commotion
1. Insurance against sabotage and terrorism
Property, goods and employees
can be insured according to the following gradations:
The turmoil in the world and the threat of trade wars are not only a problem with regard to the economy. Equally problematic is the rising geopolitical tension that is putting internationally operating businesses at an ever-greater risk of harm resulting from sabotage, terrorism and riots. It is front-page news every day but strangely enough these risks rarely feature prominently on the agenda at board meetings. A good moment to take a look at what the options are in terms of insurance.
Sabotage, terrorism, riots and war
International risks for board meeting agenda:
