Siemens, Volkswagen, Deutsche Bank, Arcandor are just a few prominent examples - the list of companies which have held their managers accountable in recent years is extensive. The threat of claims by your own business or third parties for failings (so-called manager liability), hangs permanently over directors, boards and supervisory boards. Even for small and medium-sized businesses, management mistakes can easily result in losses in the millions. The resulting damages claims, or even just the defence costs, can put the continued existence of the affected parties under threat. In order to cushion the risk for mangers, it is common in practice to take out so-called Directors and Officers insurance (D&O insurance). This refers to liability insurance which insures the executive bodies of limited liability companies, public liability companies, cooperatives or foundations in the event of a claim by the company or a third party.
Alongside the regress relationship between the executive body and the damaged business, as well as the relationship to the D&O insurer, in the area of manager liability internal regress claims can play an important role in respect of numerous potentially liable members of the executive body, as well as any potential criminal law implications. This complex, conflicting situation requires a legally sound and strategic course of action in the case of loss. Our advice begins at an early stage. With our many years of experience in dealing with large and complex manager liability cases, we can support you with the following services: