Pourquoi une D&O est importante ?
In Switzerland, members of the board of directors, managers of Sàrl, directors, liquidators and persons who de facto exercise an organ function can be held personally liable if they fail in their duties of diligence or loyalty. A claim may come from the company, shareholders, associates, creditors, investors or other injured parties.
L’assurance D&O, pour Directors and Officers, vise à protéger le patrimoine privé des dirigeants. Elle prend en charge la défense contre des prétentions injustifiées et, lorsque la responsabilité civile est établie, les indemnités dues dans les limites du contrat.
People generally affected
- Members of the board of directors of an SA.
- Managers and bodies of an Sàrl.
- Management members, senior managers and interim directors.
- Members of foundation boards, association committees or cooperatives.
- Liquidators, founders and persons exercising the function of de facto body.
- External mandates exercised on behalf of the company, according to the police.
Examples of risky situations
- Over-indebtedness or loss of capital: measures taken too late, insufficient information or poor assessment of solvency.
- Management error: poorly documented investment, acquisition, merger or contested strategic contract.
- Monitoring failure: insufficient control of delegated management, a financial process or operational risk.
- Conflict of interest: decision that favors a personal interest or a third party to the detriment of society.
- Reporting and communication: inaccurate information to shareholders, investors, creditors or authorities.
- Cyber, data or compliance: absence of reasonable governance or control measures, depending on the guarantees taken out.
D&O, RC entreprise et RC professionnelle : ne pas confondre
La responsabilité civile entreprise couvre principalement les dommages corporels ou matériels causés à des tiers par l’activité de l’entreprise. La responsabilité civile professionnelle couvre les erreurs de prestation ou de conseil selon le métier. La D&O couvre, elle, la responsabilité personnelle des organes pour leurs décisions de gestion et de surveillance. Ces couvertures sont complémentaires, mais elles ne répondent pas au même risque.
What the police must specify
- Insured persons: current, former and future managers, de facto bodies, subsidiaries, third-party or joint mandates depending on the contracts.
- Defense costs: lawyer, justice, expertise, mediation, criminal or administrative investigation linked to the function.
- Sum insured: overall ceiling, sub-limits, priority of defense costs and possible individual protection.
- Temporal validity: retroactivity date, discovery period and treatment of facts known before subscription.
- Territory : Switzerland, Europe, worldwide, with particular attention to the United States and Canada if the company is exposed there.
- Exclusions: fraud, illegitimate personal enrichment, intentional acts, fines, known losses or disputes between insured persons according to the policy.
For which companies?
La D&O n’est pas réservée aux grands groupes. Elle est pertinente pour les PME, sociétés familiales, start-ups, scale-ups, fondations, associations inscrites, entreprises avec investisseurs, société en croissance ou organisation dont les dirigeants prennent des décisions financières importantes. Elle peut aussi rassurer des administrateurs externes avant d’accepter un mandat.
Our support
Finwise analyse votre forme juridique, votre gouvernance, vos statuts, vos investisseurs, vos filiales, vos mandats externes et vos contrats de responsabilité existants. Nous comparons les conditions D&O pour obtenir une couverture lisible, adaptée au niveau de risque réel et cohérente avec vos autres assurances d’entreprise.