D&O market likely to increase by 15-20 percent in 2009

The total volume of premium income for D&O insurance written in 2009 could amount to €1.5-2 million, Simionescu added.

D&O Liability covers company managers and members of the board against liability in terms of mistakes and negligence. On the global market, compensation demands based on D&O contracts significantly increased recently, due to the financial crisis.

In Romania, however, this insurance is seldom taken out, although professional liability insurance became mandatory in 2006 for share companies.