Civil Risk
- Some errors can be attributed to managers personally if they cause damage to a third party (company management error, statute violation…), in the case of folding companies or legal redress (accumulation of liabilities),
- Infractions of legal and regulatory clauses (failure to establish annual accounts, lack of obligatory mention in the statutes…).
Penal Risk
- The manager is responsible for applying legal regulations correctly within the company. Penal sanction cannot be insured; however, the CCL contract covers the manager’s expenses on his or her defense.
- All physical persons and legal entities having suffered damages following a managerial decision may file a complaint.
