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‍1. What is it?

Managerial liability insurance, also known as Directors and Officers (D&O) insurance, is essential for protecting the personal assets of managers and executives of a company. Leading a business involves significant risks, and poor decisions can lead to substantial losses for both the company and third parties. In a world where claims for managerial errors are increasing, this insurance provides vital protection for those in leadership positions.

2. What does It cover?

Managers liability insurance provides coverage for:

  • Financial Damages: Covers damages caused by the insured's fault (error, negligence, or omission) to shareholders, investors, employees, clients, competitors, and other third parties.
  • Legal Expenses: Covers the legal costs incurred by the insured in civil lawsuits, as determined by law or courts, if they are required to pay damages.
  • Defence and Expert Costs: Covers reasonable and necessary costs for investigating, evaluating, or defending against claims for damages. These expenses may be incurred by either the company or the insured individuals and may include third-party services.

Major Causes Leading to Claims Against Managers:

  • Disputed or Failed Mergers and Acquisitions: Poor decisions in these situations can result in significant losses and claims for damages.
  • Poor Financial Performance: Insolvency, bankruptcy, or poor financial performance of the company can attract managerial liability.
  • Excessive Investments or Over-leveraged Credits: Decisions regarding large investments and taking on excessive credit can lead to claims for damages.
  • Incorrect Financial Reporting: Errors or omissions in financial reporting can severely affect the company and lead to lawsuits and claims for damages.

‍3. How to obtain It?
  • Consult an Insurance Broker: It is important to discuss with a specialist who can help identify specific risks and choose a policy suitable for your needs and those of the company.
  • Assess Specific Risks: Evaluate the potential risks faced by the managers and executives of your company, as well as the types of losses that could occur.
  • Customize the Policy: Insurance offers can vary, so it is essential to customize the policy based on the specifics of the company's activities and the positions of the insured individuals.
  • 4. Useful Tips
    • Essential Personal Protection: Managers liability insurance protects the personal assets of managers and executives if they are found liable for losses or damages.
    • Comprehensive Coverage for Managerial Risks: In a period where claims against managers are increasing, a D&O policy is vital for ensuring financial stability and protecting the reputation of both the insured individuals and the company.
    • Update the Policy According to Changes: As the company evolves, ensure that the policy is updated to reflect new risks and organizational structure.
    1. What is it?

    Managerial liability insurance, also known as Directors and Officers (D&O) insurance, is essential for protecting the personal assets of managers and executives of a company. Leading a business involves significant risks, and poor decisions can lead to substantial losses for both the company and third parties. In a world where claims for managerial errors are increasing, this insurance provides vital protection for those in leadership positions.

    2. What does It cover?

    Managerial liability insurance provides coverage for:

    • Financial Damages: Covers damages caused by the insured's fault (error, negligence, or omission) to shareholders, investors, employees, clients, competitors, and other third parties.
    • Legal Expenses: Covers the legal costs incurred by the insured in civil lawsuits, as determined by law or courts, if they are required to pay damages.
    • Defense and Expert Costs: Covers reasonable and necessary costs for investigating, evaluating, or defending against claims for damages. These expenses may be incurred by either the company or the insured individuals and may include third-party services.

    Major Causes Leading to Claims Against Managers:

    • Disputed or Failed Mergers and Acquisitions: Poor decisions in these situations can result in significant losses and claims for damages.
    • Poor Financial Performance: Insolvency, bankruptcy, or poor financial performance of the company can attract managerial liability.
    • Excessive Investments or Over-leveraged Credits: Decisions regarding large investments and taking on excessive credit can lead to claims for damages.
    • Incorrect Financial Reporting: Errors or omissions in financial reporting can severely affect the company and lead to lawsuits and claims for damages.
    3. How to obtain It?
  • Consult an Insurance Broker: It is important to discuss with a specialist who can help identify specific risks and choose a policy suitable for your needs and those of the company.
  • Assess Specific Risks: Evaluate the potential risks faced by the managers and executives of your company, as well as the types of losses that could occur.
  • Customize the Policy: Insurance offers can vary, so it is essential to customize the policy based on the specifics of the company's activities and the positions of the insured individuals.
  • 4. Useful Tips
  • Essential Personal Protection: Managerial liability insurance protects the personal assets of managers and executives if they are found liable for losses or damages.
  • Comprehensive Coverage for Managerial Risks: In a period where claims against managers are increasing, a D&O policy is vital for ensuring financial stability and protecting the reputation of both the insured individuals and the company.
  • Update the Policy According to Changes: As the company evolves, ensure that the policy is updated to reflect new risks and organizational structures.
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    About MIB

    What Our Partners Say

    Over the years, MIB has consistently demonstrated professionalism, dedication, and a deep understanding of our mutual clients' needs.

    Our collaboration is built on shared values such as integrity, innovation, and a commitment to providing superior quality services. MIB is not just an insurance intermediary but also a true strategic partner, increasingly contributing to the success and development of Asirom.

    Madalin ROSU
    CEO - Asirom Vienna Insurance Group

    MIB, one of the top 10 brokers nationally, is also among the leading brokers distributing mandatory PAD policies. This not only highlights its success as a business but also under scores its significant social role in raising public awareness about the importance of financial protection for homes.

    MIB achieves these results thanks to its excellent market reputation and significant presence across all counties in the country. In 2023 and 2024, MIB increased the number of distributed PAD policies by nearly 30%, making us proud to be partners.

    Nicoleta Radu
    General Director - PAID

    Since the beginning of our collaboration in 2005, Generali Romania has enjoyed a trusted partnership with Millenium Insurance Broker.

    We continue to develop this partnership daily, providing smart solutions and services that respect our clients' time and meet their financial protection needs.

    Adrian Marin
    CEO - Generali

    OMNIASIG Vienna Insurance Group has a solid, long-standing collaboration with Millenium Insurance Broker. We have always found in them a reliable partner and a team of professionals we can count on.

    Together, we work towards the development of the insurance market in Romania, delivering quality products and services to clients promptly.

    Mihai Tecau
    Chairman of the Board - OMNIASIG Vienna Insurance Group

    A successful and lasting partnership, such as the one we have with the Millenium Insurance Broker team, is built on shared values and the desire to provide our clients with the best products and services.

    Congratulations on all that you do every day for your clients, and continued success.

    Calin Matei
    CEO - Groupama

    Insurance is about doing good—good in people’s lives, businesses, and communities. We are proud to have reliable distribution partners like Millenium Insurance Broker by our side.

    We share the same dedication to service excellence and have a common mission: to build a future with fewer worries and greater prosperity in Romania. Thank you for the solid partnership and for contributing to making things better.

    Virgil Șoncutean
    CEO - Allianz-Țiriac Asigurări

    Millenium Insurance Broker is a trusted and valuable partner for Romanian Airport Services. 

    For over 10 years, they have represented us with professionalism and dedication, consistently finding comprehensive insurance solutions, both nationally and internationally.

    Thanks to their efforts, our insurance protection needs have always been optimally covered.

    With appreciation and gratitude,

    Alexandra Huzuneanu
    CEO - Romanian Airport Services

    MIB is a trusted partner for the Autonom Group.

    I appreciate Ștefan and his team's professionalism, promptness, and swift support.

    Marius Stefan
    CEO - Autonom

    Millenium Insurance Broker has been our insurance service provider since 2019, right from the early days of Bright Communication. Thanks to their team of professionals and their client-focused approach, addressing the increasingly complex business needs of our industry, the relationship between our entities has evolved.  

    Today, MIB is one of our main partners. And not just any partner, but the one that protects us from risks.

    Jeni Grigorescu
    General Director - Bright Communication

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