Professional paper
Liability insurance of members of company management, supervisory boards and procurators
Hrvoje Vojković
; Croatia osiguranje d.d., Zagreb, Croatia
Abstract
Professional liability insurance of members of company management and supervisory boards and procurators is relatively new in law and economy. Although the regulation defining the liability of the above subjects was passed in 1993, this insurance product has found its place on the market only recently. In spite of the lack of significant case law based on claims for damages by companies, shareholders and warrants who could suffer harm occasioned by mistakes of members of management and supervisory boards, I believe that this type of insurance is welcome due to the protective character of personal property of members of managerial boards, and especially because of the easier and simpler compensation of claims to the injured parties. It is important to understand the concurrent realization of public and private interest in professional liability insurance in general and in liability insurance of members of managerial and supervisory boards and procurators of companies in particular. Besides, this type of insurance of professional liability has a positive and stimulating impact on the overall business environment and contributes the improvement of operational effectiveness, thus strengthening professional liability as well.
Keywords
liability insurance; liability of members of managerial board; liability of supervisory board; procurator's liability; internal liability; external liability
Hrčak ID:
24960
URI
Publication date:
22.6.2008.
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