OUR SOLUTIONS – By Type of Product

There has been a dramatic increase in the frequency and the severity of claims experienced against directors, officers and companies in the last 10 years. As a result, Management Liability Insurance has become a must, irrespective of size, ownership structure or sector of activity.

Management Liability Insurance protects directors, officers, managers and business entities from the cost of legal action and claims arising from governance, finance, benefits, and other management activities.

Through the BELUGA PANEL OF EXPERTS, our policies also give access to a range of experts that can provide advice on how to avoid/minimize a claim, help defend it if it materializes and eventually help recover after it.

Our policies are designed specifically for each class of insured. Whether you are an Individual Professional, a Company or a Non for Profit Organization, Beluga has the right cover for you.

MANAGEMENT LIABILITY INSURANCE FOR COMPANIES

Most policies have been designed for large multinational corporations and then adapted for smaller companies. And they all miss a key element. In small and medium companies, ownership and management of the company are not always separated. So whether something is paid by the company or its managers or directors, the funds come out of the same ultimate pocket.

At BELUGA we have taken the concept of Directors & Officers Liability Insurance one step further by designing the policy with small and middle sized companies in mind and including cover for the Company for an extended number of exposures.

MANAGEMENT LIABILITY INSURANCE FOR NOT FOR PROFIT ORGANIZATIONS

Recent legislative changes have left Directors & Officers of Not for Profit Entities more exposed than ever to liability claims. All associations and foundations are now considered Enterprises. The new Book XX of the Economic Law Code applies to all enterprises, which makes that all VZWs/ASBLs can now be declared bankrupt. Moreover, the new company law will now also apply to associations, which will mean that the same liability rules will apply, e.g. concerning founder’s liability, joint and several liability, … As a result, and in addition to measures to professionalise directorships, Directors & Officers Liability Insurance has become a must.

Beluga Management Liability Insurance Associations & Foundations has been designed with these entities in mind, including covers for the entity itself under its Corporate Legal Liability section.

Specific Features for Associations & Foundations

  • Language adapted to Associations & Foundations
  • Clauses with regard to changes in legal structure adapted to Associations & Foundations
  • Subsidiaries of Associations & Foundations are also included
  • Underwriting linked to the legal definitions of small/large/very large Associations & Foundations

Stay tuned for new covers specific to Associations & Foundations in the near future.

MANAGEMENT LIABILITY INSURANCE FOR INDIVIDUALS

Coming Soon