Directors and Officers Liability Insurance
alfa money insurance agency has the ability and the experience necessary to carry out the appropriate research, offering protection to businesses and their executives with our Directors and Officers Liability Insurance.
The main focus of our coverage is the liability of the company as a legal entity, as well as the liability of its executives, against demands pertaining to damages caused to third parties due to errors or omissions in the course of the performing of administrative and management duties.
Legislation in Greece and on an international level
Current legislation and its application in Greece and internationally have formed an institutional framework which attempts to secure transparency and trustworthiness to business activity as well as the interests of all persons involved in the functioning of a business.
Supported by the law and the controls it has set in place, individuals such as: employees, consumers, partners, suppliers and other interested parties ever more commonly bring grievances for financial damages. Concurrently, the courts award ever higher indemnities to businesses and executives, who are now liable for their personal property.
Within this frame, the danger of a business or one of its executives being subjected to significant expenses for the settlement of demands is today greater than ever. The unique circumstances of private businesses, in fact, suggest notable dangers. Their simplified organizational structures make it easy to lay accountability on individual executives; their damage control structures are often inadequate; finally, many executives have shares in the business’s capital.