Liability insurance of bankruptcy managers
Coverage of costs incurred in the course of bankruptcy
For damages incurred due to omission of error
Liability insurance of bankruptcy managers implies coverage of costs for damages incurred by the bankruptcy manager to the participants in the bankruptcy proceedings pertaining to his/her scope of activities – due to omission or error.
If damages occur due to error or omission of the bankruptcy manager, together with the insured, insurance company “DDOR Novi Sad” will undertake to defend the insured against unjustified and exaggerated claims (participate in investigating the liability of the bankruptcy manager, litigate in his/her name), effect payment of indemnity within 14 days from the establishment of such liability and the amount thereof, and indemnify the costs of litigation in line with the Terms and Conditions of liability insurance of bankruptcy managers.
Sum insured is stipulated to a fixed amount and represents maximum liability of the insurance company per one insured event. Payment of indemnity within sum insured pertains to cases of death, body or health injury of third parties or their property, and to pure property claims.
What is not covered by this insurance
Among others, liability insurance of bankruptcy managers does not cover damages incurred to third parties on purpose, by utter carelessness, fraud, failure to implement adequate preventive measures or overstepping legal authorities.