Insurance coverage of Directorships

                          Whatever the legal form and status of the entity, the members of the Board of Directors are subject to various liability risks under  Luxembourg law.

                          As a best practice, ILA strongly recommends to its members to assess, for each directorship, the existing insurance coverage as well as the need for additional coverage.

                          Generally speaking, an entity should provide its directors with insurance coverage. It is important that the director understands the terms and conditions of such insurance, notably the limitations, exclusions, renewal process, etc. Despite such insurance provided by the corporate entity, the director might wish to have additional insurance coverage, which would be personal to her or him, and which she or he can have a direct access to in case of need.

                           In order to facilitate the search for such an insurance policy for its members, ILA has identified the insurance companies listed below as offering insurance coverage to individual directors in Luxembourg. Please note that this list is not necessarily exhaustive but represents the current knowledge of ILA about the products available on the market.

                          Please be aware that it remains the exclusive responsibility of the director to assess her or his needs, and to choose the product that will best fit these needs. It is also the responsibility of the director to ask directly the insurer/broker for an individual offer and quote and to make her or his own informed choice. ILA is neither providing advice on insurance contracts nor otherwise proposing any insurance contracts. The only purpose of ILA is to draw its members’ attention to the importance of ensuring they have adequate insurance coverage and effective access to such coverage for their directorships.

                          AIG offer for ILA members



                          AIG already provides insurance coverage to all ILA members.

                          In cooperation with the insurance broker Gras Savoye, AIG has developed an additional and more extensive specific insurance offer for all ILA members.

                          The specificity of this policy is that the policy holder and the assured are the physical person holding the mandates.

                          ALLIA offer



                          AlliA Luxembourg has set up with Foyer Assurances a tailored-made insurance policy covering director’s liability without any retention/deductible and with a broad coverage of any type of mandates without any pre-set criteria.

                          Talisman S.À.R.L. offer

                          The Talisman S.à.r.l. policy provides individual Directors & Officers (D&O) insurance, to help protect an executive’s personal wealth and reputation.

                          Complementary to an entity D&O policy, ILA members can purchase the Talisman Individual Executive Protection (TIEP) policy at an exclusive rate. The policy gives instant response and flexible support, is Luxembourg compliant and subject to Luxembourg law.

                          Talisman S.à.r.l. is an independent commercial insurance broker in Luxembourg, supervised by the Commissariat aux Assurances (CAA). We tailor commercial entity and business executive insurance solutions.

                          Please contact our TIEP experts via: +352 2620 3241 or Email Us.

                          Or visit our website here

                          Pension Scheme

                          Cardif Lux Vie offer


                          Since the beginning of the year 2019, you can now, as independent directors, benefit from a supplementary pension scheme while enjoying tax benefits. Cardif Lux Vie has created for you the solution My Prolife, your best asset for you serenely build retirement savings and enjoy the fruit of your labour.

                          My Prolife has unique advantages in Luxembourg: guaranteed investment (2.35% gross return in 2018) or tailor-made vehicles, choice of coverage, premium payments, all without surprise of cost. And for members of the ILA, Cardif Lux Vie offers special conditions.

                          Do not hesitate to contact us. With our privileged partner, Assurances Consulting Courtage, we will analyse together the most suitable solution for your personal situation.


                          Bâloise Vie Luxembourg

                           

                          Supplementary Pension Scheme with tax benefits for Independent Directors

                          You are a self-employed director, Luxembourg resident with a marginal tax rate above 20% ? 

                          Save for your pension and enjoy a favorable tax regime : 

                          Premiums are tax-deductible up to 20% of your annual net income (art. 110 & 3a LIR), with no ceiling. A flat-rate withholding tax of 20% applies, plus 0.9% tax on the premiums paid. Capital is tax-free after retirement in Luxembourg. This can be combined with other tax-favorable life insurance products (111 LIR et 111Bis LIR). 

                          Investments can be split in different vehicles : a Baloise product with a guaranteed rate set by the CAA and/or in investment funds (large choice incl. ESG labelled funds). Amounts and schedule are flexible ; you decide if, when and how much you want to save. 

                          Plus, our dedicated eBenefits online platform allows you to easily check, adapt and manage your savings.

                          SPECIAL CONDITIONS FOR ILA MEMBERS on entry fees and management fees! Get in touch with your Baloise ILA dedicated expert now !

                          Contact us

                          If you wish to have more information about the insurance coverage ILA partners offer, you can either contact us or contact them directly. 

                           send us a mail

                            +352 26 49 58 5963