Dargestellt wird das kompakte Feld der Managerhaftung unter dem Blickwinkel der Haftpflichtdeckung durch Versicherer in den USA und Deutschland. Aufgeteilt ist die Abhandlung in die drei Komplexe: 1. Entwicklung der D&O-Versicherungen 2. Haftungssituation in den beiden Ländern und 3. Deckungskonzepte nebst Rechtsprechung.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Management duties and liability
- Duties and liability of American directors and officers
- Internal management liability
- External management liability
- Enforcement of liability
- Duties and liabilities of German directors and officers
- Internal management liability
- External management liability
- Liability of supervisory boards
- Enforcement of liability
- Major differences between the American and German liability systems
- Historical development of D&O insurance
- Historical development in the United States
- Historical development in Germany
- Reliability and risk of abuse of the liability cover provided by D&O insurance policies
- Reliability of D&O insurance
- Conflicts of interest and the friendly assertion of claims
- Jurisdictional clause
- Termination clause
- Publicity clause
- Individual abuse clause
- Major shareholder exclusion
- Balance sheet function of D&O insurance
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper aims to provide a comprehensive overview of directors' and officers' (D&O) liability insurance, focusing on the liability cover provided by insurers in the United States and Germany. It examines the legal frameworks, historical developments, and potential risks associated with D&O insurance.
- Management duties and liability in the US and Germany
- Historical development of D&O insurance in the US and Germany
- Reliability and risk of abuse of D&O insurance policies
- The balance sheet function of D&O insurance
- Key differences between the American and German liability systems
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction provides context for the growing importance of D&O insurance in the face of increased shareholder influence, stricter court rulings, and heightened competition. It highlights the significance of D&O insurance for managers of public limited companies, especially in the United States.
Chapter 2 examines the duties and liabilities of directors and officers in both the United States and Germany, highlighting key differences between the American and German legal systems. The chapter focuses on the structure of corporate management, the responsibilities of board members and executive officers, and the enforcement of liability.
Chapter 3 delves into the historical development of D&O insurance in both the United States and Germany, tracing its evolution from its origins to the present day.
Chapter 4 explores the reliability and risk of abuse of D&O insurance policies, analyzing the potential for conflicts of interest and the measures insurers have implemented to mitigate these risks. It also examines the balance sheet function of D&O insurance.
Schlüsselwörter (Keywords)
Directors' and officers' liability, D&O insurance, management liability, corporate governance, professional indemnity, risk management, shareholder influence, court rulings, globalization, competition, legal frameworks, historical development, abuse risk, conflicts of interest, balance sheet function, United States, Germany.
- Quote paper
- Andreas Schlegelmilch (Author), 2004, D&O liability under American and German law and the liability cover furnished by insurers, Munich, GRIN Verlag, https://www.grin.com/document/284994
