Coverholder at LLOYD`S

Bankruptcy Administrator Compulsory Professional Indemnity Insurance

Original price was: €1,00.Current price is: €0,00.

Bankruptcy Administrator Insurance provides financial protection to companies and individuals, carrying out natural person and legal entity bankruptcy administration, when the administrator by his/her actions or inaction induces property damage (loss) to bankrupting company, its employees, company‘s creditors or third parties. For Bankruptcy Administrators doing natural entities bankruptcy administration compulsory insurance wording as per Order No. 1K-143 as of April 26 2016, by Finance Minister of the Republic of Lithuania. For Bankruptcy Administrators doing legal entities bankruptcy administration compulsory insurance wording as per Order No. 1K-143 as of April 26 2016, by Finance Minister of the Republic of Lithuania.

 

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Description

Claim examples

 

  • Bankruptcy Administrator received a claim from the creditors of the administrated company, since he/she  sold the real property at a lower price than it was available in the market. As a result, the creditors did not recover part of the debts, adjudged to bankrupting company.
  • Bankrupting company‘s bankruptcy administrator received a claim, since unilaterally, without prior coordination with the company’s creditors, refusing part of the assignment of receivables, he/she violated the bankrupting company‘s creditor interests and caused damage.

Advantages

 

  • Highly competitive insurance premiums
  • Single Policy coverage for both natural persons and legal entities
  • Short, simple questionnaire required in order to get a quote
  • Operative risk assessment and Insurance Policy issuance
  • Large limits of indemnity available
  • Highest financial reliability – Lloyd‘s of London