Christian Genz

Updates

Insurance

Insurability of corporate fines: new draft law's implications for insurance industry
Germany | 31 March 2020

In 2019 the Federal Ministry of Justice and Consumer Protection presented its draft bill for a new and independent law on corporate penalties. Pursuant to the draft bill, considerable fines may be imposed not only on the persons involved in wrongdoing, but also on companies. This will significantly affect insurance cover, especially in the areas of professional indemnity and directors' and officers' insurance.