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Decision-makers in the employee benefits insurance space, as well as members of the governing bodies of municipalities and those of public institutions, operate under particularly high expectations in relation to their activity. AXA offers policies tailored to the specific risks faced by their directors and officers. It is also possible for directors and officers to protect themselves against personal liability risks in the event of a breach of their obligations independently of the undertaking.
In an increasingly challenging market, decision-makers at BVG (OPA) institutions are responsible for investing pension assets totaling several billion Swiss francs. Insureds and legislators rightly place high demands on them. With its tailored policy, combined D&O and professional liability insurance for employee benefits institutions and their managers provides comprehensive protection in the event of claims brought by third parties.
According to cantonal legislation on responsibilities and liability, governing bodies of municipalities (e.g. members of the municipal or city council, head teachers, or executive staff of the municipality) may be held liable for loss caused to third parties as a result of their actions or decisions. Recourse to the governing body of the municipality is also possible if a breach of obligations occurs in the case of delegated or outsourced tasks. AXA policies are tailored to the needs of municipalities and offer security as well as professional support in the event of a claim.
Are you looking for professional liability cover that is tailored to your own personal needs as a the holder of a director's or officer's mandate in a legal entity, i.e. a stock corporations (AG), cooperative, limited liability company (GmbH), foundation, or association? With Premium Multi Individual, AXA offers the ideal solution for all directors and officers entered in the commercial register – irrespective of whether they hold only one or several director/officer mandates.
The major advantage of Premium Multi Individual compared with conventional corporate D&O insurance is that, with Premium Multi Individual, the entire sum insured is reserved for you exclusively and you alone have the say over your insurance contract at all times. Alongside this advantage, Premium Multi Individual also helps you if the company itself does not want to take out any D&O insurance (e.g. in a family company with predominantly family members on the board of directors) or where you personally consider the company’s sum insured under D&O cover to be too low.
Prevention is the most effective means of countering white-collar crime. It begins with the establishment of prevention risk consciousness.
In order to provide the best preventive protection for your company, an individual analysis by proven experts is recommended. Working with Structuul AG, AXA offers you the opportunity to take preventive measures in your company and implement protection at an early stage.
AXA gives companies that have completed an individual Fraud.Prevention.Awareness program with Structuul AG a one-time discount of CHF 250 on the next annual premium of their DO or fidelity insurance with AXA&.
No official figures on frequency in Switzerland are available. As insurers, however, we are seeing a steady increase in D&O liability claims. Investors and shareholders are seeking to minimize their risk and protect their own capital; accordingly, they are increasingly holding officers and directors responsible in the event of bankruptcy or insolvency.
Yes. If it is established that the public image and good reputation of an insured is damaged in the course of a claim, AXA will pay the costs of restoring the image and good reputation of the insured and will also cover psychologist consultation fees.
The answer in the case of most SMEs is an emphatic “yes”. Fact is, the statutory basis of D&O liability is identical whether your company is small, medium, or large. Directors and officers of SMEs in particular have faced liability suits on an increasing basis in recent years.
Cover is particularly advantageous for companies that have a large number of shareholders with varied interests or financial investors, if there are major plans for restructuring, investments, or acquisitions or disposals within the market place, or if your company operates in a sector with major potential risks in terms of bodily injury, property or environmental damage. But not only that: it also makes sense if you find yourself in a difficult financial situation and are perhaps at risk of bankruptcy – even where this is due solely to a potential bankruptcy on the part of key suppliers or customers. And it is worthwhile in any case if the director, officer, or other senior employee who looks after your liability issues would simply like to have this type of insurance in place.
