KuV4-manager is an exclusive online platform that offers liability insurance for managers. These policies protect the private vermogen and corporate vermogen of managers and are tailored to the individual needs of these professionals. They cover the typical risks and liabilities associated with control organs. In addition, they provide a host of additional services to help managers protect themselves.
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Liability risks in management or control responsibility
Liability risk can arise when someone responsible for leadership or control is found liable for another person’s actions. An example of this is a case where a faulty product or defective service is attributed to an employee of a leadership team. As a result, the employer can face liability or sanctions.
In such a case, liability insurance can help. This kind of insurance can cover the costs if a manager is found to be liable for a mistake or an employee’s non-compliance. A company may also invest in an internal compliance system, which can help ensure compliance and prevent non-compliance. While it is not possible to overview every single act, management must ensure adherence to regulations and laws. Otherwise, a company can be sued for partition in court.
Insured event is the liability claims against the policyholder
In the case of an insurance claim, the insurance company must notify the insured within a specific period, which depends on the terms of the policy. Once the insurer is notified, he or she is obligated to help clear up any damage. This includes providing all relevant documents and facts.
In the event of a covered loss, the insurance company is required to pay a certain amount of money to the claimant. This is known as indemnification. However, the amount of this payment is usually limited to the sum of the agreed insurance amount. The insurer is not obliged to cover the full amount of the insured loss.
For a company or a business organization, a Personenschutzversicherung is a good choice. This type of insurance protects against personal liability and other damages that may result from a breach of contract. This type of insurance is especially suitable for companies and business organizations that have employees or have the responsibility to provide safe working conditions for their employees.
The insured event does not end when an application is made or when insolvency proceedings are opened
The Versicherungsfall – and therefore also the InsolvenzVerordnung – does not end upon the Beantragung nor on the opening of an Insolvenzverfahren. If you are an employer and want to file for insolvency, you must disclose all relevant information to the insolvency court. The Insolvency Act states that you must make all relevant information available to the court and must give this information to them within three weeks of receiving your application. If you fail to do so, you can be fined significantly.
The Insolvency Court has several options available to it. It has the power to reject a pending insolvency petition and can also dismiss a proper Insolvency Case. The Insolvency Court will not consider a petition that has been filed by a natural person if it fails to meet the legal requirements.